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Egypt’s Swvl closes $21.5m PIPE funding round. 1 other thing and a trivia



This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Egypt’s Swvl closes $21.5m PIPE funding round

Swvl, an Egyptian mobility company, has announced closing a US$21.5 million private investment.

The raiser comes as part of its proposed business combination with Queen’s Gambit.

Swvl was founded in 2017 by Mostafa Kandil as a mass-transit system that enables riders heading in the same direction to share a ride in a van or bus.

According to the startup, its proprietary mobility solutions are helping to solve mass transit supply and demand challenges in emerging markets.

In addition, the startup empowers underserved communities with transportation solutions that are reliable, convenient, safe, and affordable.

The startup operates across 10 cities in Egypt, Kenya, Pakistan, the United Arab Emirates (UAE), Saudi Arabia and Jordan.

Tech Trivia: Which of the following statements about wikis is false?

A They allow users to create new content.
B They allow users to edit existing content.
C The have replaced web forums.
D They contain UGC.
Answer: See end of post

READ ALSO: Healthtech startup, Reliance Health, closes $40M round. 1 other thing and a trivia

2. Uganda’s ChapChap secures funding round to accelerate venture

ChapChap, a Ugandan fintech startup, has secured a funding round to accelerate its commercial growth and social impact creation.

ChapChap was founded in 2016 by Emmanuel Emodek and James Alituhikya.

The cofounders launched the startup together with their former primary school teacher, Monica Asiimwe Kiconco.

According to the founders, the startup aims to empower small and medium sized enterprises by giving them access to digital financial tools and resources to help them scale.

With reference to empowering MSMEs, the startup also formalise aspects of their business using its Android app, which allows small shops to start operating mobile money agency business.

Emmanuel Emodek, co-founder and managing director of ChapChap, expressed excitement over the new capital injection.

He said: “We are very excited to start out 2022 with this capital injection to accelerate our expansion within and beyond the Ugandan market. We are already servicing more than 20,000 MSMEs in Uganda. This injection is to facilitate digital capacity and financial inclusion for a million customers.”

Trivia Answer: Wiki

A wiki is a Web site that allows users to add and update content on the site using their own Web browser. This is made possible by Wiki software that runs on the Web server. Wikis end up being created mainly by a collaborative effort of the site visitors.

A great example of a large wiki is the Wikipedia, a free encyclopedia in many languages that anyone can edit. The term “wiki” comes from the Hawaiian phrase, “wiki wiki,” which means “super fast.” I guess if you have thousands of users adding content to a Web site on a regular basis, the site could grow “super fast.”

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