Swvl, a Dubai-based provider of transformative mass transit and shared mobility solutions, has announced a definitive agreement to acquire a controlling interest in Shotl, a mass transit platform that partners with municipalities and corporations to provide on-demand bus and van services across Europe, Latam and APAC regions - optimizing public transport systems and decreasing dependence on costly private options. 

 

With a presence across 22 cities in 10 countries including Brazil, Japan and pan-European footprint, over 350,000 bookings to date, more than 10% market share in Europe and rapid adoption, Shotl is solving challenges posed by transportation voids in suburbs, cities and campuses with an on-demand platform that is simple to use, flexible, and sustainable. 

 

It has partnered with governments, municipalities and companies to reach populations living or working in low-density areas that are largely underserved by existing mass transit and ride sharing options, including senior citizens, and people with reduced mobility, who often lack equitable access to transportation. 

 

Shotl will now be able to leverage Swvl’s proprietary technologies to further optimise routes and maximize vehicle load, all the while reducing traffic congestion.

 

"Our two companies share the view that there is an urgent need to transform traditional public transportation to make it more accessible, convenient and sustainable," said Mostafa Kandil, Swvl Founder and CEO. 

 

"Shotl’s vision for the future of mobility, with an emphasis on electrification, the reduction of congestion and emissions, and affordability – is exactly what Swvl has already achieved in ten emerging market megacities and the reinvented model for public transit systems across the world," noted Kandil.

 

"With Shotl’s strategic relationships, rapidly growing user base and deep knowledge of its market landscapes, Swvl is meaningfully expanding its core markets, in line with our publicly stated growth objectives," he added.

 

Based in Barcelona and present across 20 cities in 8 countries in Europe including Spain, Germany, France, UK, Italy, Switzerland, Portugal and Finland, Shotl will serve as Swvl’s European hub and platform for further significant expansion.

 

Shotl’s on-demand SaaS platform complements Swvl’s pre-scheduled dynamic routing and TaaS offering.

 

Addition of Shotl to the Swvl portfolio creates a strong foothold in Europe, a full year ahead of Swvl’s expansion projections – and more than doubles Swvl’s geographic footprint with the addition of 22 cities across 10 countries taking the total Swvl portfolio to 32 cities in 16 countries.

 

"We are very pleased to be joining the Swvl team, working in concert to realize our shared vision of building more equitable and accessible mass transit systems worldwide," remarked Gerard Martret, CEO and co-founder of Shotl. 

 

"In just a few years, Swvl has established itself as a market leader, with rapid growth and unparalleled tech-enabled offerings. Swvl is ideally situated for expansion into European markets and will immediately capitalise on our local partnerships and brand value," noted Martret. 

 

"As a company that has made significant strides in advancing sustainable mass transit over the past several years, we are confident that Shotl’s market-leading technology and expertise will greatly contribute to the Swvl platform, advancing our mission to provide superior transportation alternatives for all," he added.-TradeArabia News Service