EGYPTSwvl, an Egyptian bus-hailing startup, has acquired a controlling stake in Shotl, a Spanish mass transit platform that partners with municipalities and corporations to provide on-demand bus and van services across Europe, LATAM, and APAC.

With a presence 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, Shotl is addressing challenges posed by transportation voids in suburbs, cities, and campuses.

Shotl works with governments, towns, and businesses to reach those who live or work in low-density locations that are mainly neglected by existing mass transit and ride-sharing choices, such as senior citizens and people with limited mobility, who typically lack equal transportation access.

“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.”

“There is an urgent need to transform traditional public transportation to make it more accessible, convenient and sustainable.”

Mostafa Kandil – Founder and CEO, Swvl

Shotl will now be able to use Swvl’s unique technology to improve route optimization and vehicle load while minimizing traffic congestion. Shotl will 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.

The addition of Shotl to the Swvl portfolio gives the company a strong presence in Europe, a full year ahead of Swvl’s expansion plans, and more than doubles Swvl’s geographic reach, bringing 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,” said 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 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.”

Subject to customary closing conditions, the transaction is scheduled to occur in the fourth calendar quarter of 2021.