A bus orientated service SWVL, is preparing to bring change in the means of traveling by offer affordable and air conditioned rides for Pakistani citizens.
The company announced that it has plans to invest $25 million in Pakistan to fund pre seed startups. The announcement was made at 021Disrupt, a technology and entrepreneurship conference by The Nest I/O.
General manager Shahzeb Memon said that their aim is to create 10,000 jobs in a year through their venture. They also hope to mobilize half a million Pakistanis by 2023.
The bus service started in Lahore in August, and shortly expanded to Islamabad and Karachi.
SWVL is same as the coaches and buses running in the city, but bookings have to be made online on first come first serve system. Currently the company has air conditioned 13 seater Hiaces and 21 seater buses. They hired both full time and part time drivers who are waged on a per ride basis.
The fares are charged according to the distance, starting from Rs 20 for a 25 km ride. There rates are fixed and don’t change in rush hours means no surge pricing. The payment option is cash, but an online payment option will be introduced soon too.
SWVL was founded by three young Egyptian entrepreneurs: CEO Mostafa Kandil, COO Mahmoud Nouh, and CTO Ahmed Sabbah.
Shahzeb Memon talked to media that “Our target market consists of young individuals who value comfort and reliability while being financially prudent, they are always on the go and want a new-age, efficient mode of travel”.
He further said, “We offer a transport service at a price cheaper than rickshaws, cars, taxis or other ride-hailing services”.
The company aims to offer quality customer service and maximum number of routes as they already did in Kenya and Egypt. They believe their expansion to Pakistan would be a success. Now we became an integral part of the daily lives of people of Egypt and Kenya owing to good reputation.