Swvl Secures 3-Year Contract Worth Up to $4 Million with a Large Enterprise in Essential Services
Swvl Holdings Corp (NASDAQ: SWVL) has renewed a three-year contract with a major enterprise in essential services, valued at approximately $4 million with expected growth to $5.2 million by contract expiry. The renewal extends their partnership to a total of six years and focuses on providing transportation services to NEOM, Saudi Arabia's ambitious smart city project spanning 26,500 square kilometers.
The contract reinforces Swvl's position in Saudi Arabia's logistics sector and demonstrates its capability to serve remote areas through its technology-enabled mobility solutions. The company's platform aims to help enterprises manage dynamic transportation demands and optimize fleet operations for mission-critical services.
Swvl Holdings Corp (NASDAQ: SWVL) ha rinnovato un contratto triennale con una grande azienda operante nei servizi essenziali, del valore di circa 4 milioni di dollari, con una crescita prevista fino a 5,2 milioni di dollari alla scadenza del contratto. Il rinnovo estende la loro collaborazione a un totale di sei anni e si concentra sulla fornitura di servizi di trasporto a NEOM, il progetto ambizioso di città intelligente dell'Arabia Saudita che si estende su 26.500 chilometri quadrati.
Il contratto rafforza la posizione di Swvl nel settore della logistica in Arabia Saudita e dimostra la sua capacità di servire aree remote grazie alle soluzioni di mobilità supportate dalla tecnologia. La piattaforma dell'azienda mira ad aiutare le imprese a gestire le esigenze di trasporto dinamiche e a ottimizzare le operazioni della flotta per servizi critici.
Swvl Holdings Corp (NASDAQ: SWVL) ha renovado un contrato de tres años con una importante empresa de servicios esenciales, valorado en aproximadamente 4 millones de dólares, con un crecimiento esperado hasta 5,2 millones de dólares al finalizar el contrato. La renovación extiende su colaboración a un total de seis años y se centra en proporcionar servicios de transporte a NEOM, el ambicioso proyecto de ciudad inteligente de Arabia Saudita que abarca 26.500 kilómetros cuadrados.
El contrato refuerza la posición de Swvl en el sector logístico de Arabia Saudita y demuestra su capacidad para atender áreas remotas mediante soluciones de movilidad habilitadas por tecnología. La plataforma de la empresa tiene como objetivo ayudar a las empresas a gestionar demandas dinámicas de transporte y optimizar las operaciones de flotas para servicios críticos.
Swvl Holdings Corp (NASDAQ: SWVL)는 주요 필수 서비스 기업과 약 400만 달러 규모의 3년 계약을 갱신했으며, 계약 만료 시점에는 520만 달러까지 성장할 것으로 예상됩니다. 이번 갱신으로 양사의 파트너십은 총 6년으로 연장되었으며, 사우디아라비아의 야심찬 스마트 시티 프로젝트인 NEOM에 교통 서비스를 제공하는 데 중점을 두고 있습니다. NEOM은 26,500 평방킬로미터에 달하는 대규모 지역입니다.
이번 계약은 사우디아라비아 물류 분야에서 Swvl의 입지를 강화하고, 기술 기반 모빌리티 솔루션을 통해 외딴 지역까지 서비스를 제공할 수 있는 역량을 입증합니다. 회사의 플랫폼은 기업들이 동적인 교통 수요를 관리하고, 미션 크리티컬 서비스용 차량 운영을 최적화하는 데 도움을 주는 것을 목표로 합니다.
Swvl Holdings Corp (NASDAQ : SWVL) a renouvelé un contrat de trois ans avec une grande entreprise de services essentiels, d'une valeur d'environ 4 millions de dollars, avec une croissance attendue jusqu'à 5,2 millions de dollars à l'expiration du contrat. Ce renouvellement porte leur partenariat à un total de six ans et se concentre sur la fourniture de services de transport à NEOM, le projet ambitieux de ville intelligente de l'Arabie saoudite qui s'étend sur 26 500 kilomètres carrés.
Ce contrat renforce la position de Swvl dans le secteur logistique en Arabie saoudite et démontre sa capacité à desservir des zones éloignées grâce à ses solutions de mobilité technologiques. La plateforme de l'entreprise vise à aider les entreprises à gérer des demandes de transport dynamiques et à optimiser les opérations de flotte pour des services essentiels.
Swvl Holdings Corp (NASDAQ: SWVL) hat einen dreijährigen Vertrag mit einem großen Unternehmen im Bereich der essenziellen Dienstleistungen erneuert, der einen Wert von etwa 4 Millionen US-Dollar hat und bis zum Vertragsende auf 5,2 Millionen US-Dollar wachsen soll. Die Verlängerung erstreckt die Partnerschaft auf insgesamt sechs Jahre und konzentriert sich auf die Bereitstellung von Transportdienstleistungen für NEOM, das ehrgeizige Smart-City-Projekt Saudi-Arabiens, das sich über 26.500 Quadratkilometer erstreckt.
Der Vertrag stärkt Swvls Position im Logistiksektor Saudi-Arabiens und zeigt die Fähigkeit des Unternehmens, abgelegene Gebiete durch technologiegestützte Mobilitätslösungen zu bedienen. Die Plattform des Unternehmens zielt darauf ab, Unternehmen bei der Verwaltung dynamischer Transportanforderungen zu unterstützen und Flottenoperationen für mission-kritische Dienstleistungen zu optimieren.
- Contract renewal worth $4 million with potential growth to $5.2 million over three years
- Strategic expansion into NEOM, Saudi Arabia's flagship smart city project
- Extension of existing relationship to a total of six years, demonstrating client satisfaction
- Strengthening footprint in Saudi Arabia's essential services sector
- None.
Insights
Swvl secures $4M contract in Saudi Arabia, potentially reaching $5.2M, strengthening regional position and supporting NEOM development.
This contract renewal with a large enterprise in Saudi Arabia's essential services sector represents a meaningful revenue commitment for Swvl. The
Looking at the strategic significance, this renewal extends a relationship to a total of six years, demonstrating strong customer retention and service satisfaction. The customer being in "essential services" suggests reliability requirements that validate Swvl's operational capabilities.
The contract's focus on providing transportation to NEOM is particularly noteworthy. This 26,500 square kilometer smart city project represents one of Saudi Arabia's most ambitious Vision 2030 initiatives with projected investment exceeding
While the contract size isn't transformative for Swvl's overall financial picture, its importance extends beyond the direct revenue. It establishes Swvl as a qualified provider for critical infrastructure projects, potentially opening doors to additional contracts as NEOM's development accelerates and other Saudi megaprojects advance. The contract also provides operational validation of Swvl's technology platform for managing transportation in remote and developing areas with dynamic requirements.
This renewal aligns with Swvl's stated goal of expanding across Saudi Arabia, currently the largest economy in the MENA region with significant ongoing investment in infrastructure modernization.
Swvl secures a 3-year contract worth up to
Swvl’s services extend to provide accessibility to remote cities like NEOM, the ambitious smart city project in Saudi Arabia currently under construction, ensuring essential connectivity
The contract renewal signifies Swvl’s efforts to expand across Saudi Arabia, further solidifying its regional presence as a transport provider to strategic initiatives
DUBAI, United Arab Emirates, May 27, 2025 (GLOBE NEWSWIRE) -- Swvl Holdings Corp (“Swvl” or the “Company”) (Nasdaq: SWVL), a leading global provider of technology-enabled mobility solutions for enterprises and governments, today announced the renewal of its contract during January 2025 with a large enterprise in essential services. This renewed three-year agreement, valued at approximately
By securing this contract renewal, Swvl believes that it further cements its position as a trusted partner in the region of Saudi Arabia’s logistics sector, where the demand for secure, reliable transportation solutions continues to grow. Swvl further believe that this transport use case is significant in the region, driven by ongoing investments in infrastructure, government projects, and regional development initiatives.
This contract renewal also highlights Swvl’s goal to expand its operational network to remote areas like NEOM, a visionary smart city under construction that is planned to span 26,500 square kilometers. Providing accessible and reliable transportation to such remote areas is vital in maintaining operational continuity and supporting the city’s ambitious development timeline.
Furthermore, Swvl’s advanced technology platform aims to enable its enterprises to efficiently manage dynamic transportation demands, and to optimize fleet operations to ensure timely service delivery for mission-critical operations. We believe that this adaptability is particularly crucial in remote and evolving city landscapes such as NEOM, where dynamic transportation requirements necessitate responsive, technology-driven solutions.
Mostafa Kandil, Chief Executive Officer of Swvl, commented: “We are honored to continue our relationship with a leader enterprise in Saudi Arabia’s essential services sector. We believe that this renewed agreement not only strengthens our footprint in the sector, but also aligns with our mission to expand Swvl’s transportation network across Saudi Arabia, including strategic developments in NEOM. By integrating our technology platform, we aim to deliver unparalleled convenience, reliability, and operational excellence to our customers.”
For more information about Swvl and its services, please visit www.swvl.com.
About Swvl
Swvl is a global technology provider offering transformative mobility solutions for enterprises and governments. The Company’s platform delivers innovative transportation alternatives, with a goal to enable safer, more efficient, and accessible mobility options. Swvl operates in numerous cities worldwide, providing services with a goal to empower individuals and organizations to navigate their environments effectively.
Forward-Looking Statements
This press release contains “forward-looking statements” relating to future events. Forward-looking statements generally are accompanied by words such as “believe,” “may,” “will,” “estimate,” “continue,” “anticipate,” “intend,” “expect,” “should,” “would,” “plan,” “predict,” “potential,” “seem,” “seek,” “future,” “outlook” and similar expressions that predict or indicate future events or trends or that are not statements of historical matters.
These forward-looking statements include, but are not limited to, statements regarding future events and other statements that are not historical facts. For example, Swvl is using forward-looking statements when it discusses the potential and value of the three-year contract with the large enterprise; its ability to expand operations and to extend accessibility to remote cities like NEOM while ensuring essential connectivity; its expansion across Saudi Arabia including its strategic development; its continues position as a trusted partner in the Saudi Arabia; its platform’s abilities, including but not only ability its to efficiently manage dynamic transportation demands and to optimize fleet operations to ensure timely service delivery for mission-critical operations; its ability to maintain such partnership; and its ability to deliver unparalleled convenience, reliability, and operational excellence to their partners. These statements are based on the current expectations of Swvl’s management and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and will differ from assumptions. Many actual events and circumstances are beyond the control of Swvl. These statements are subject to a number of risks and uncertainties regarding Swvl’s business, and actual results may differ materially.
In addition, forward-looking statements provide Swvl’s expectations, plans, or forecasts of future events and views as of the date of this communication. Swvl anticipates that subsequent events and developments could cause Swvl’s assessments and projections to change. However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Swvl’s assessments as of any date subsequent to the date of this communication. Accordingly, undue reliance should not be placed upon any forward-looking statements. Except as otherwise required by law, Swvl undertakes no obligation to publicly release any revisions to these forward-looking statements to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.
More detailed information about the risks and uncertainties affecting the Company is contained under the heading “Risk Factors” in the Company’s annual report on Form 20-F for the fiscal year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission (the “SEC”), which is available on the SEC’s website, www.sec.gov, and in subsequent SEC filings.
Contact
Investor Relations: ir@swvl.com
Ahmed Misbah, Swvl’s Chief Financial Officer: ahmed.misbah@swvl.com
FAQ
What is the value of Swvl's new contract renewal in Saudi Arabia?
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