Swvl Inc. has acquired 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, Latin America, and Asia Pacific, optimising public transportation systems and reducing reliance on expensive private options. The notion that offering accessible and equitable mobility solutions provides a pathway to social and economic empowerment through access to better employment, healthcare, and education is central to both firms’ goals.
With a presence in 22 cities across 10 countries, including Brazil, Japan, and a 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. Shotl collaborates with governments, municipalities, and businesses to reach people who live or work in low-density areas that are underserved by existing mass transit and ride-sharing options, such as senior citizens and people with limited mobility, who frequently lack equitable access to transportation. Shotl will now be able to use Swvl’s unique technology to improve route optimization and vehicle load while minimising 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. 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,” added Mostafa Kandil.
“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,” said Gerard Martret, CEO and co-founder of Shotl.
Also said, “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 capitalize on our local partnerships and brand value. 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.”
“We are very excited to welcome Shotl to the Swvl family as our first acquisition and new market expansion after entering a definitive agreement for a business combination with Queen’s Gambit Growth Capital only a couple of weeks ago,” said Youssef Salem, Swvl CFO.
Further states, “This partnership reinforces Swvl’s role as the leading mass transit technology platform globally. Our vision is to back local and regional champions in the space to achieve our mission of delivering safe, reliable and affordable mass transit to the entire globe. Shotl brings significant value to this ecosystem with its pan-European, LATAM and APAC presence, on-demand SaaS technology, B2G and OEM relationships and electrification and autonomous initiatives. With this partnership putting us significantly ahead of plan in these areas, we will continue to rapidly pursue strategic initiatives to further enhance shareholder value.”
The transaction is expected to close in the fourth calendar quarter of 2021, subject to customary closing conditions.
