Zain Ventures announced its investments in Pipe and Swvl to support their growth across Zain’s regional footprint in seven markets across the Middle East and Africa and beyond.
Pipe is a US based FinTech recognized as the world’s first trading platform for recurring revenues with its recent fund-raising valuing the entity at $2 billion in under a year since its launch in June 2020, making it one of the fastest fintech to reach this valuation in history.
Swvl’s mobility solutions are solving mass transit supply and demand challenges in emerging markets. It currently operates across 10 cities in the UAE, Saudi Arabia, Jordan, Egypt, Kenya and Pakistan.
Bader Al Kharafi, Zain Vice Chairman and Group CEO commented, “The establishment of Zain Ventures is another step in Zain Group’s ‘4Sight’ strategy and progression to become a full-fledged digital services company.”