Browsing: SWVL

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Egyptian startup Swvl making giant moves across the globe

Tech & Business
  • The African firm which provides shared transportation services for both intracity and intercity movement acquired the Turkish firm at around US$40 million
  • Swvl currently repurposes underutilized, privately owned buses or minivans for different purposes throughout the day
  • Swvl said the acquisition of Volt Lines would add an incremental US$4.3 million of annualized revenue to its balance sheet

 

Egyptian startup Swvl has expanded into Turkey after it recently acquired B2B transportation-as-a service operator Volt Lines. 

The African firm which provides shared transportation services for both intracity and intercity movement acquired the Turkish firm at around US$40 million.

The acquisition now gives Swvl access to Volt Line’s tech as well as over 110 corporate client contracts. 

Swvl currently repurposes underutilized, privately owned buses or minivans for different purposes throughout the day. 

Some of these include shuttling intercity commuters along fixed routes, providing rides between cities and driving corporate employees to work …