Dubai-based mobility company Swvl said Wednesday that it plans to go public through a reverse merger with Queen’s Gambit Growth Capital. The special purpose acquisition company is led entirely by women.
Founded in 2017, Swvl provides ridesharing services in emerging markets that don’t always have reliable public transportation.
Unlike ride-hailing services that focus on one-off and individual rides, Swvl focuses on mass transit. This both reduces emissions, and cuts the cost for what otherwise might be a prohibitively expensive ride. The company utilizes a proprietary algorithm to figure out the fastest routes, including for things like going to school or to work.
The deal with Queen’s…