{"id":558626,"date":"2021-08-19T03:56:00","date_gmt":"2021-08-19T03:56:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/swvl-will-expand-into-europe-through-shotl-acquisition\/"},"modified":"2021-08-19T03:56:00","modified_gmt":"2021-08-19T03:56:00","slug":"swvl-will-expand-into-europe-through-shotl-acquisition","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/swvl-will-expand-into-europe-through-shotl-acquisition\/","title":{"rendered":"Swvl will expand into Europe through Shotl acquisition"},"content":{"rendered":"

<\/a> Swvl to acquire Europe\u2019s answer to on-demand shuttles: <\/strong>Mass transportation startup Swvl has agreed to acquire Barcelona-based \u201cmultiservice collective mobility platform\u201d (how\u2019s that for a mouthful?) Shotl<\/a>, an unnamed source with direct knowledge of the transaction tells Reuters<\/a>. The source did not disclose details on the timeline or value of the acquisition as the talks are not yet public.<\/p>\n

If completed, the takeover would see Shotl serve as Swvl\u2019s HQ in Europe<\/strong> \u2014 and would more than double Swvl\u2019s geographic footprint, with the European startup operating in 22 cities across 10 countries, including Brazil and Japan. A senior source at Swvl had previously told us the company plans to tap into \u201cat least 50 new markets in the short term,\u201d while founder Mostafa Kandil had recently said<\/a> the company was mulling the acquisition of an unnamed firm in Europe.<\/p>\n

The Shotl acquisition would also mark Swvl\u2019s entry into the self-driving game: <\/strong>Swvl and Shotl will together take part in a European Commission-led project designed to showcase how autonomous buses can have a positive impact on the future of public transport, the source told Reuters.<\/p>\n

SPAC-tastic: <\/strong>Swvl said last month it would go public<\/a> on the Nasdaq in 4Q2021 through a merger with blank-check firm Queen\u2019s Gambit Growth Capital. The agreement values the company at around USD 1.5 bn, and the listing will raise the company\u2019s capital to USD 550 mn from USD 100+ mn today. Swvl is also <\/strong>mulling an IPO<\/a><\/strong> on the EGX in 2022-2023<\/strong> and expects to become profitable for the first time in 2024, CFO Youssef Salem previously told Reuters.<\/p>\n

\u201cWhat\u2019s Shotl,\u201d we hear you ask?<\/strong> Established in 2017, Shotl is an on-demand bus platform that incorporates a \u201cdemand responsive transport system\u201d that focuses on underserved or difficult to reach areas. Crunchbase<\/a> suggests the company has raised nearly USD 1.1 mn in two rounds.<\/p>\n

What\u2019s next for Swvl?<\/strong> The company says it will, starting 2023, begin expanding into sectors such as logistics, advertising and financial services.<\/p>\n","protected":false},"excerpt":{"rendered":"

Swvl to acquire Europe\u2019s answer to on-demand shuttles: Mass transportation startup Swvl has agreed to acquire Barcelona-based \u201cmultiservice collective mobility platform\u201d (how\u2019s that for a mouthful?) Shotl, an unnamed source with direct knowledge of the transaction tells Reuters. The source did not disclose details on the timeline or value of the acquisition as the talks […]<\/p>\n","protected":false},"author":1,"featured_media":558627,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7363],"tags":[72,729,7128,120,3564,507],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-558626","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ma-watch","tag-enterpriseam","tag-european-commission","tag-ma-watch","tag-nasdaq","tag-shotl","tag-swvl","wpautop","entry"],"acf":{"mongo_id":"af5d2162-bf47-45d2-b982-46314e364512","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/206.jpg","photo_position":"above","related_issue":[558622],"teaser":"","voice_url":""},"yoast_head":"\nSwvl will expand into Europe through Shotl acquisition - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/08\/19\/swvl-will-expand-into-europe-through-shotl-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Swvl will expand into Europe through Shotl acquisition\" \/>\n<meta property=\"og:description\" content=\"Swvl to acquire Europe\u2019s answer to on-demand shuttles: Mass transportation startup Swvl has agreed to acquire Barcelona-based \u201cmultiservice collective mobility platform\u201d (how\u2019s that for a mouthful?) 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The transaction, which was first revealed last night by Reuters, would see Swvl's geographic footprint more than\u2026","rel":"","context":"In "SPEED ROUND: M&A WATCH"","block_context":{"text":"SPEED ROUND: M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":546083,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/04\/27\/swvl-to-acquire-turkish-transit-company-volt-lines\/","url_meta":{"origin":558626,"position":1},"title":"Swvl to acquire Turkish transit company Volt Lines","author":"enterpriseam admin","date":"27 April 2022","format":false,"excerpt":"Cairo-born mass transit firm Swvl is continuing its buying spree, announcing this week an agreement to purchase Turkish firm Volt Lines in what is the company\u2019s fourth acquisition in the past eight months.The details: The acquisition will be executed with a mix of cash and shares, with the \u201cvast majority\u201d\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/4\/375.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":558862,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/30\/swvl-to-invest-up-to-usd-300-mn-globally-over-next-three-years\/","url_meta":{"origin":558626,"position":2},"title":"Swvl to invest up to USD 300 mn globally over next three years","author":"enterpriseam admin","date":"30 August 2021","format":false,"excerpt":"Mass transport startup Swvl is planning to invest USD 250-300 mn over the next three years to expand its global footprint, the company\u2019s CFO Youssef Salem told Al Mal. The big ticket spending will come after the company completes its IPO on the Nasdaq, and will be used to help\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/8\/299.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":548203,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/31\/swvl-has-terminated-its-acquisition-of-uk-based-zeelo-due-to-market-volatility\/","url_meta":{"origin":558626,"position":3},"title":"Swvl has terminated its acquisition of UK-based Zeelo due to \u201cmarket volatility\u201d","author":"enterpriseam admin","date":"31 July 2022","format":false,"excerpt":"Swvl\u2019s acquisition of UK-based smart bus platform Zeelo is off: Cairo-born mass transport app Swvl will not be acquiring UK startup Zeelo, after the two companies said they were calling off the transaction due to turmoil in financial markets, Swvl announced in a filing to the US Securities and Exchange\u2026","rel":"","context":"In "M&A WATCH"","block_context":{"text":"M&A WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/ma-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/7\/316.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":547886,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/18\/swvl-is-entering-mexico-with-another-acquisition\/","url_meta":{"origin":558626,"position":4},"title":"Swvl is entering Mexico with another acquisition","author":"enterpriseam admin","date":"18 July 2022","format":false,"excerpt":"Swvl expands to Mexico with fourth acquisition of 2022: Cairo-born mass transport app Swvl is continuing its buying spree with the acquisition of Mexico-based transport firm Urbvan Mobility, giving the Nasdaq-listed startup access to the second most populated market in Latin America. 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