Swvl signs shuttle service contract with Bank Albilad in Saudi Arabia

Swvl Holdings Corp (Nasdaq: SWVL) has signed a contract with Bank Albilad to provide technology-enabled shuttle services across the bank's network in Saudi Arabia, according to a company press release.

Under the agreement, Swvl will deploy its platform to support dynamic route planning, real-time dispatching, and operational optimization for Bank Albilad's workforce transportation needs.

The contract represents Swvl's entry into Saudi Arabia's banking and financial services sector. The company did not disclose the financial terms of the agreement.

"KSA remains to be a highly strategic growth market for Swvl and we view the expansion into the banking sector as reflective of the breadth of demand for technology-enabled mobility across essential industries," said Mostafa Kandil, Chief Executive Officer at Swvl.

The announcement follows a series of previously disclosed enterprise contract wins across the Gulf Cooperation Council region, including a contract in Kuwait valued at up to $2.2 million, a contract in the United Arab Emirates valued at up to $5.5 million, and a healthcare contract in Saudi Arabia valued at up to $1.5 million.

"Our focus remains on securing long-term, high-quality contracts that generate predictable, recurring revenue while addressing critical operational needs for leading enterprises in the region," said Ahmed Misbah, Chief Financial Officer at Swvl.

Swvl currently operates across Egypt, Saudi Arabia, the UAE, Kuwait, and the United Kingdom, serving corporate clients, government institutions, schools, and healthcare providers.

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