Swvl Introduces Portfolio Optimization Platform to Turn Cash Flow Positive in 2023

Swvl Introduces Portfolio Optimization Platform to Turn Cash Flow Positive in 2023-01

Swvl Holdings, a global provider of transformative tech-enabled mass transit solutions, today announced that it is implementing a portfolio optimization program to enhance efficiency and reduce central costs to accelerate its path to profitability to turn cash flow positive in 2023.

Transport as a Service (TaaS) business, where Swvl provides technology-enabled transportation for corporates, schools, universities, industrial facilities, airlines and other institutional clients via its asset-light marketplace, and Software as a Service (SaaS) business where Swvl licenses its proprietary technology to transit agencies, bus operators and other high-capacity vehicles fleet owners and users, are both growing rapidly. They have now collectively crossed more than 500 live accounts across 4 continents with more than $5m monthly revenues. The recent closed acquisitions of TaaS and SaaS businesses Viapool, Volt Lines and Shotl and pending acquisition of door2door contribute to this growth.

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The Company’s portfolio optimization program will include the following:

  • Continuation and organic and inorganic growth of TaaS and SaaS business across all geographies of operations including GermanySpainItalySwitzerlandTurkeyJapanArgentinaSaudi ArabiaUnited Arab EmiratesJordanEgyptKenya, and Pakistan;
  • Focus of the Business to Consumer (B2C) business on Egypt and Pakistan, currently the Company’s highest B2C revenue contribution and profitability markets;
  • Optimizing B2C route networks in certain cities as well as headcount and operating expenses; and
  • Continued investment in developing the Company’s proprietary technology stack.

The Company expects to reduce its headcount by approximately 32%. Such reductions will focus on roles which have been automated by investments in the Company’s engineering and product and support functions. Swvl plans to provide monetary, non-monetary and job placement support to help with the transition of certain of its employees to new roles.

As a result of the portfolio optimization program, Swvl’s management currently expects that the Company will be cash flow positive in 2023.

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