Dubai-based mobility company Swvl said today that it plans to go public through a reverse merger with Queen’s Gambit Growth Capital, CNBC reports. The SPAC is led entirely by women.
Founded in 2017, Swvl provides ridesharing services in emerging markets that don’t always have reliable public transportation. Unlike ride-hailing services that focus on one-off and individual rides, Swvl focuses on mass transit.
Swvl operates mainly in areas of the Middle East and Africa where mass transit is plagued by poor reliability. Read more.