Swvl, which provides tech-enabled mass transit solutions, announced Thursday (April 28) that it has entered a definitive agreement to acquire smart bus platform Zeelo.
According to the press release, Zeelo will help Swvl’s recent successful acquisitions of Viapool and Shotl, along with other announced ones of Volt Lines and door2door. This will also give a launchpad to “rapidly land and expand” business operations in three strategic markets — the U.K., South Africa and the U.S.
The release said that Zeelo has a “well-recognized commitment to driving the shift from single-occupancy vehicles to zero-emission mass transit and deploying transportation services to connect more people to work and educational opportunities.”
The deal will be completed by May 2022.
Mostafa Kandil, the founder and CEO of Swvl, said the company was founded on the principle of accessible transportation being essential to getting more economic opportunity, and the companies have a vision “to provide reliable transportation that gets riders where they need to go in an affordable, safe, and environmentally-friendly manner.”
“With an impressive suite of turnkey TaaS and SaaS solutions and an established footprint in the United Kingdom, South Africa, and the United States, Zeelo rapidly advances our leading market position as a provider of technology-enabled mass transit solutions on a global scale,” he continued.
Earlier this week, PYMNTS wrote about how Swvl had acquired Volt Lines, with the deal expected to be completed by the second quarter of this year.
Read more: Swvl Acquires Turkish Mass Transit Provider Volt Lines
Volt offers corporate clients an alternative to public transit or ride hailing, using smartly-routed shared buses through a monthly subscription. The company works with over 110 companies in the region.
Volt Lines, as part of the deal, will build a technology and research and development center to bolster Swvl’s global hubs in Spain, Germany, Egypt and Pakistan.
“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,” said Ali Halabi, Volt Lines Founder and CEO. “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 expansion of our platform.”
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