Co-founder and Chief Operating Officer of Egypt-based bus hailing firm, Swvl, has resigned from the company.
The former Swvl COO, Mahmoud Nouh, reportedly left to quote, “pursue personal goals”, which Swvl hinted he was working on a startup.
Mr. Nouh is one of three co-founders of Swvl. The remaining two are: Mostafa Kandil and Ahmed Sabbah.
Swvl has operations in Kenya and Pakistan.
The firm recently took on US $42 million in funding (at a $156.8-million valuation) to fuel its expansion into other countries.
Swvl’s bus service consists buses that ply fixed routes, which riders can pre-book via Swvl’s app.
Swvl’s founders collectively control 30% of the company according to Reuters.
It’s yet to be established whether Nouh will forfeit his stake in the company.
