Swvl, an Egyptian startup that provides shared transportation services for intercity and intracity trips, has expanded into Turkey with its recent acquisition of Volt Lines, a B2B transportation-as-a-service operator.
The primarily stock deal, which was valued at around $40 million, gives Swvl access both to Volt Lines’ tech as well as its over 110 corporate client contracts. This reach will help Swvl build out its corporate offerings while also getting a foothold in Turkey so it can expand its B2C service, as well as adjacent transportation solutions including schools and factories, the company says.
Swvl’s main business model involves repurposing underutilized, privately owned buses or minivans for di …
