Swvl expands its presence in the Turkish mobility market through the acquisition of Volt Lines

SWVL, an Egyptian mobility startup, has purchased Volt Lines, a Turkish B2B mobility startup. The deal is worth more than $40 Million.

As part of the deal, Volt Lines will establish an R&D centre dedicated to supporting SWVL’s expansion plans.

The acquisition follows Swvl’s recent acquisitions of controlling stakes in Shotl and Viapool, and the pending acquisition of door2door.

Founded in 2018, Volt Lines has a strong presence in major Turkish cities including Istanbul and the capital Ankara. By using a network of strategically routed shared buses, the company offers corporate clients an affordable alternative to public transport and ride-hailing for commuters.

Mostafa Kandil (Swvl Founder, CEO), said, “Volt Lines shares Swvl’s commitment to expanding opportunities and reducing emissions through forward-thinking mobility solutions. With this acquisition, we are deepening our presence in Europe, immediately expanding our enterprise client-base and continuing to deliver on our growth objectives. We look forward to welcoming the Volt Lines team to the Swvl family and working together to realize our shared vision of revolutionizing mass transit systems around the world.”

Ali Halabi, Volt Lines CEO and Founder, said, “When we launched Volt Lines four years ago, we set out to deliver a revolutionary transit experience to make commuting more reliable and affordable in Istanbul. With Swvl’s global footprint, leading technology platform, and proven ability to scale, we believe they are the ideal partner for Volt Lines to accelerate the expansion of our platform. We are confident that our solutions will contribute meaningfully to the Swvl platform and we will be able together to provide superior transportation options for commuters all over the globe. We’re also excited about scaling our R&D center in Istanbul into a global technology hub, giving Swvl a reliable access to Turkey’s technical talent.”

Swvl CFO, Youssef Salesm, said, “The acquisition of Volt Lines expands on Swvl’s position as a leader of mobility solutions, with a clear opportunity to scale the platform globally. Volt Lines brings a wide range of multinational customers to which we look forward to continuing to develop relationships as we provide the transportation solutions they require. Swvl is taking another important step to diversify its offerings and expand its reach globally with this acquisition. As always, we are evaluating a host of compelling opportunities to further our position as a leading provider of tech-enabled mobility solutions.”

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