The transport provider is merging with publicly-listed Queen's Gambit Growth Capital at a $1.5bn valuation, with Zain and Agility both investing.

Swvl, a United Arab Emirates-headquartered transport booking platform developer backed by ride hailing service Careem and diversified holding company Almajdouie, has agreed to list through a reverse takeover.

The company is merging with Queen’s Gambit Growth Capital, a special purpose acquisition company that floated on the Nasdaq Capital Market in a $300m initial public offering in January this year.

Mobile voice and data services provider Zain, logistics firm Agility and hedge fund manager Luxor Capital Group are among the…

Robert Lavine

Robert Lavine is special features editor for Global Venturing.