Swvl buys Turkey’s Volt Lines in first acquisition as public company

Dubai-based transit solution provider SWVL – which went public earlier this month – acquired a Turkey-based competitor Voltage lines.

Terms of the agreement are not disclosed. Volt Lines founder and CEO Ali Halabi will continue to lead the Turkish company in the future.

This is the fourth acquisition for Swvl in less than a year. He took majority stakes in Barcelona-based Shotl in August 2021 and in Viapool, which operates in Argentina and Chile, in November. In March, Swvl announced plans to acquire Door2Door, a mobility platform operating across Europe, with the acquisition still pending.

Volt Lines offers corporate customers an alternative to public transportation or carpooling using a shared bus network. The company currently has over 100 institutional customers using its monthly subscription service, including Mondelez, Pirelli, MetLife and many more.

“Volt Lines shares Swvl’s commitment to expanding opportunity and reducing emissions through forward-thinking mobility solutions. With this acquisition, we are strengthening our presence in Europe, immediately expanding our corporate customer base and continuing to achieve our growth objectives,” said Mostafa Kandil, Founder and CEO of Swvl.

“We look forward to welcoming the Volt Lines team to the Swvl family and working together to achieve our shared vision of revolutionizing public transit systems around the world.”

Swvl provides technology-enabled transit solutions for intercity, intracity, B2B, and business-to-government transportation in more than 115 cities in 18 countries.

“When we launched Volt Lines four years ago, we set out to offer a revolutionary public transport experience to make travel more reliable and affordable in Istanbul. With Swvl’s global footprint, industry-leading technology platform and proven ability to scale, we believe it is the perfect partner for Volt Lines to accelerate our platform expansion,” says Hlabi. .

“We are also excited to evolve our Istanbul R&D center into a global technology hub, providing Swvl with reliable access to Turkish technical talent.”