Egyptian Mobility Startup SWVL acquires Spain’s Shotl, Expands Into Europe
Everything seems to be falling in place for the Egyptian mobility space as Swvl, a provider of transformative mass transit and shared mobility solutions operating in Egypt and Saudi Arabia, has announced its expansion to Spain after it acquired a controlling stake in Shotl, a Spanish mass transit platform.
Shotl was launched in 2017 by the trio of Gerard Martret, Igor Martret, Osvald Martret to partner with municipalities and corporations to provide on-demand bus and van services across Europe, LATAM, and APAC, thereby optimizing public transportation systems and reducing reliance on expensive private options.
Shotl is currently operating in 22 cities across 10 countries, including Brazil, Japan, and a pan-European footprint1, over 350,000 bookings to date, more than 10% market share in Europe, and rapid adoption.
Having recently announced it was going public and also expanding to Dubai, Mostafa Kandil, Swvl Founder and CEO has asserted that the startup needs the acquisition to transform traditional public transportation and make it more accessible, convenient, and sustainable.
“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” said Mostafa.
For Shotl, the partnership means they will now be able to use Swvl’s resources to improve route optimization and vehicle load while minimizing traffic congestion. They will also act as Swvl’s European center and platform for additional major expansion, with offices in 20 locations across eight European nations, including Spain, Germany, France, the United Kingdom, Italy, Switzerland, Portugal, and Finland.
Gerard Martret, CEO and co-founder of Shotl speaking, said “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.
“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”.