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SWVL raises $20 million in private placement

SWVL, 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

Oluwajuwonlo Afolabi profile image
by Oluwajuwonlo Afolabi
SWVL raises $20 million in private placement
Photo by Markus Winkler / Unsplash

SWVL, 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.
Oluwajuwonlo Afolabi profile image
by Oluwajuwonlo Afolabi

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