They're not the first to make this move, and probably not the last.
Cairo-born-and-based transportation startup SWVL is moving its headquarters to Dubai in November, said co-founder and CEO Mostafa Kandil to MENAbytes yesterday. The Dubai-based team is already in place, but Cairo will remain the operations and engineering hub for the company.
SWVL was founded in 2017 to connect Egyptian commuters with private buses, running on fixed routes. Passengers looking to move around Egypt reserve seats on said buses, and pay all through the company’s mobile application.
Since their founding, SWVL has raised $80 million, with $42 million just in its last round two months ago, making it the best funded Egyptian startup and one of the best-funded in the entire Middle East & North Africa. They’ve also added Alexandria, Egypt, Nairobi, Kenya and Lahore, Pakistan to the list of cities where they’re fully-operational. “The startup now positions itself as a global company and has plans to expand to Nigeria, South Africa and some markets in Southeast Asia,” MENAbytes wrote.