Swvl

Kolors acquires Urbvan to transform corporate bus travel in Mexico

Kolors, a Mexico City-based startup that connects intercity bus riders with bus drivers, is acquiring B2B van pooling provider Urbvan for $12 million cash, the company shared Wednesday. Kolors CEO and

SWVL reduces its headcount by 50% six months after axing 400+ staff

Cairo-born and Dubai-based mass transit and shared mobility services provider SWVL has carried out its second round of layoffs affecting 50% of its remaining headcount, according to a statement shared

African genomics startup 54gene lays off 95 as COVID testing business struggles

African genomics startup 54gene has laid off 95 employees, or about 30% of its LinkedIn-sourced 290+ employees. A company’s spokesperson confirmed the news after several sources informed TechCru

Kenyan logistics startup Sendy cuts 10% of its workforce

Kenyan logistics startup Sendy has laid off 10% of its 300-strong workforce, or 30 employees, according to pan-African news publication TechCabal. This is the latest public layoff news from Africa ov

Daily Crunch: Did Bolt Mobility bolt? The startup left equipment and confused customers in its wake

Hello, friends, and welcome to Daily Crunch, bringing you the most important startup, tech and venture capital news in a single package.

Swvl’s $100M acquisition of Smart Bus startup Zeelo is off, amid tech stocks slump

All is not well with the proposed acquisition of U.K. start bus platform Zeelo by Mass transit group Swvl. Back in April, we covered how a possible $100 million acquisition was on the cards, and, inde

Zedcrest launches $10 million ’emergency fund’ for African startups

Zedcrest Capital, a firm known for its debt and equity capital markets investments but who recently started dabbling into venture investments, has launched a $10 million fund for pre-Series A stage st

Wave, a Stripe-backed African fintech valued at $1.7 billion, cut 15% of its staff in June

Wave, an African fintech that offers mobile money services in Senegal and Ivory Coast, laid off about 15% of its workforce last month. TechCrunch first got a whiff of the layoff news on LinkedIn, wher

SWVL plans to lay off 32% of its team two months after going public

Egypt-born and Dubai-headquartered mobility startup SWVL is planning to lay off 32% of its workforce it said in a statement today. The company’s LinkedIn profile shows it has over 1,330 employee

Mass transit group Swvl confirms estimated $100M acquisition of UK startup Zeelo

Mass transit group Swvl has confirmed to TechCrunch its deal to buy U.K. startup Zeelo, estimated to be a $100 million acquisition, according to sources. The Egyptian-born startup that provides shared

Egyptian MaaS startup Swvl enters Turkish markets with latest acquisition

Swvl, an Egyptian startup that provides shared transportation services for intercity and intracity trips, has expanded into Turkey with its recent acquisition of Volt Lines, a B2B transportation-as-a-

Tofino Capital reaches first close of $10M fund to back startups in frontier markets

Tofino Capital, a venture capital firm targeting early-stage startups in emerging markets, has launched its $10 million fund. It is announcing the first close of this fund at $5 million and hopes to a

Qureos raises $3M to grow its learn to earn platform

Qureos, a UAE-based edtech and remote work marketplace that is changing how people upskill and get jobs across the globe, plans to grow the uptake of its platform by 10 times this year in its race to

All eyes are on Swvl as it starts trading on a SPAC combination

Mass transit and shared mobility provider Swvl went public today in a landmark moment for Egyptian and Middle Eastern tech ecosystems. It’s also a test for the company going public despite a market

African tech took center stage in 2021

Two years ago, the African tech ecosystem saw newfound attention from global players that translated to the continent’s best year of receiving venture capital. From varying sources, it is estimated

Meet the startups changing mobility for emerging middle classes

In emerging economies, where spending billions to build public transit infrastructure can be out of reach, startups are using technology to meet the mobility needs of a rising urban middle class. Swvl

Egyptian ride-sharing company Swvl plans to go public in a $1.5B SPAC merger

Queen's Gambit Growth Capital, the women-led SPAC in charge of the deal, called Swvl 'a disruptive platform that solves complex challenges and empowers underserved populations.'

Sequoia leads $5M pre-seed in Egypt’s 1-month-old digital bank Telda

Egypt has a population of over 100 million people. The country has a high mobile and internet penetration necessary for a young and tech-savvy population with 61% below 30. But despite its youthful po

Egyptian VC firm Sawari Ventures finally closes $71M fund for North African startups

Egyptian-based VC firm Sawari Ventures has closed its $71 million fund for North Africa’s rapidly growing startup ecosystem. The firm first announced its fund in 2018, when it closed an initial