Swvl expands HSBC working capital facility to $1.4M

Swvl Holdings Corp (Nasdaq: SWVL) announced that HSBC Bank has increased the limit on its working capital facility by 110% to $1.4 million, more than doubling the capacity available under the facility originally established in November 2024.

The Dubai-based company also said it has expanded its relationship with HSBC to include the bank's global payment solutions, which Swvl is deploying in Egypt to manage high-volume, time-critical payment flows to operators, suppliers and business partners.

Swvl said it intends to use the expanded facility to fund the working capital cycle associated with new and renewing enterprise contracts across Egypt, the Gulf Cooperation Council, the United Kingdom and the United States.

Egypt, where the facility is anchored, reported revenue of $16.2 million in fiscal year 2025, a 20% increase year-over-year, with net dollar retention of 126%. In the first quarter of fiscal year 2026, Egypt revenue rose 45% year-over-year to $4.64 million, while gross profit increased 37% to $0.75 million.

"HSBC has moved from being a lender to being an integral part in how we operate," said Mostafa Kandil, Chief Executive Officer of Swvl.

Ahmed Misbah, Chief Financial Officer of Swvl, said the facility expansion follows a year in which the company grew total revenue by 41% and returned to profitability. "A 110% increase in our limit tells us how our credit profile is being read," he added.

Swvl said it expects to extend HSBC's payment and cash management capabilities to additional markets as its multi-entity treasury structure continues to consolidate. The announcement follows contract wins across Saudi Arabia, Kuwait and the United Arab Emirates, as well as the company's entry into the United Kingdom and the United States.

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