- Extends Swvl’s global footprint to 146 cities across 21 countries on five continents, with contracts with over 490 corporate and institutional customers, to service daily bus journeys for shift-workers, office commuters, and students.
- Offers compelling monetary advantages and profitable operations
- Provides immediate entry into two strategic developed markets, South Africa and the United States, and builds on recent acquisitions of Shotl and Viapool, as well as announced acquisitions of Volt Lines and door2door, with the objective of accelerating Swvl’s expansion across established and new markets.
- Swvl and Zeelo share a mission to modernize the way people move by bringing a shared mobility tech solution to mass transport that unlocks economic opportunities and reduces emissions, providing commuters with a faster, safer, more affordable, and more environmentally friendly mass transit option.
Swvl Holdings Corp, a global provider of tech-enabled mass transit solutions, has announced a definitive agreement to acquire Zeelo, the United Kingdom’s largest smart bus platform and technology scale-up, as measured by bookings. Joining forces with Zeelo builds upon Swvl’s recent successful acquisitions of Viapool and Shotl, and announced acquisitions of Volt Lines and door2door, and provides a launchpad to rapidly land and expand business operations in three strategic developed markets, including the United Kingdom, South Africa, and the United States, with Zeelo’s seasoned team of over 160 staff across the globe, including 29 software engineers based out of Zeelo’s R&D center in Barcelona.
Zeelo has a well-known commitment to accelerating the transition from single-occupancy vehicles to zero-emission mass transit and deploying transportation services to connect more individuals to employment and educational opportunities. The transaction is anticipated to close in May 2022.
“Swvl was founded on the belief that accessible transportation is essential to unlocking economic opportunity. Swvl and Zeelo share a vision and mission to provide reliable transportation that gets riders where they need to go in an affordable, safe, and environmentally-friendly manner. With an impressive suite of turnkey TaaS and SaaS solutions and an established footprint in the United Kingdom, South Africa, and the United States, Zeelo rapidly advances our leading market position as a provider of technology-enabled mass transit solutions on a global scale.” Mostafa Kandil, Swvl Founder and CEO, said.
The transaction provides Swvl with greater scale, enhances its capabilities, and generates substantial shareholder value:
- Drives continued global expansion: Increases penetration in the lucrative UK market and provides a foothold in the United States and South Africa
- Offers a complementary suite of B2B mobility solutions with the demonstrated ability to reduce organizations’ overall costs:
- The leading fully managed TaaS platform connects riders to operators and drivers via their employers and schools.
- The SaaS licensing platform enables third-party fleet operators to administer their own programs.
- Asset-light delivery model by partnering with existing fleet partners, including more than 200 bus operators in the United Kingdom and the United States.
- Provides access to an elite enterprise clientele:
- Contracts negotiated with major employers and schools at >100 locations
- Proven history of expanding customer deployments with existing multi-site customers
“Swvl is revolutionizing the mass transit industry and we are thrilled to join forces with them on this next phase of Zeelo’s journey to firmly establish smart bus transport as the best-in-class shared mobility solution that takes account of all income levels and the needs of ordinary, every-day travelers. Bus transport done well with tech can take us beyond our dependency on cars and taxis which are not suitable for commutes from non-urban areas. We look forward to bringing Swvl insights from Zeelo’s strategic pivot during the global pandemic and we’ve been impressed by Swvl’s fast growth in challenging markets. We are excited to leverage their global experience as we embark on a shared journey to develop safe, affordable, and low emission mass transportation options, and expand economic opportunity for the people who need it most through our mobility solution. Especially shift workers, professionals and students living in transport-poor areas in the developed markets.” Sam Ryan, Zeelo Founder and CEO, said.
“The acquisition of Zeelo offers Swvl a superb entry point into the US and South Africa, extends our position in the UK, and provides a complementary suite of new mobility products. Combined with our past acquisitions and announced acquisitions, today’s announcement further demonstrates our ability to utilize our growth capital and public currency to pursue organic and inorganic strategic initiatives. We look forward to capitalizing on the numerous opportunities provided by this transaction to advance our market position as a provider of technology-enabled mass transit solutions on a global scale.” Youssef Salem, Swvl CFO, said.
Through B2B contracts with organizations and family-owned bus operator networks, Zeelo modernizes daily bus commutes to meet the needs of frontline workers and students. Large businesses, staffing agencies, independent schools, and universities in the United Kingdom, South Africa, and the United States use Zeelo’s system to provide a private travel option for people living in areas with poor transport links. Its service model consists of a driving accreditation school, contracted fleets, and proprietary technology, such as a SaaS platform and multiple customer apps that utilize smart GPS route optimization and ride-sharing software.