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After three years of operating in Pakistan, mobility startup SWVL last week decided to wrap up operations in Pakistan completely amid a global downturn in investments.
Company sources disclosed to Profit that SWVL announced decision to shut down its intercity travel vertical in Pakistan on November 17 and laid off staff. On November 18, the company decided to completely wrap up its operations, shutting down the TaaS (transport-as-a-service) vertical.
SWVL operated three business verticals in Pakistan. Individual riders could commute on SWVL’s buses for intracity travel under a retail model. SWVL’s retail bus service suffered a major blow initially during the pandemic when all transportation took a hit.
