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# SWVL raises $20 million in private placement
- URL: https://www.techloy.com/swvl-raises-20-million-in-private-placement/
- Published: 2022-08-11T13:23:10.000Z
- Updated: 2022-12-07T21:08:29.000Z
- Author: Oluwajuwonlo Afolabi
- Tags: Mobility, Swvl, Tech in UAE

[SWVL,](https://www.swvl.com/) a UAE-based mobility startup has raised $20 million in funding in a private placement from US-based institutional investors for the sale of 12 million shares along with securities.

- The private placement will take effect on Friday, the company claims.
- The Series A warrants will expire five years from the date of issuance and the Series B warrants will expire two years from the date of issuance.
- The startup went public through a special purpose acquisition company (SPAC) and has raised $264 million in funding since its launch.