Volt Lines Acquired by Global Tech-Enabled Transit Leader Swvl.
Istanbul, Turkey, Tuesday, 26 April 2022
It is with great excitement that we, the Volt Lines team, announce our acquisition by Swvl Holdings Corp, a global leader in tech-enabled mass transit solutions. This remarkable milestone marks a pivotal moment in our journey to redefine urban mobility not just in Turkey, but on a global scale.
Founded in 2018, Volt Lines has been on a mission to revolutionize the way people commute in Turkey. We set out to create a commute experience that is not only reliable but also environmentally friendly. Volt Lines has a strong presence in major Turkish cities including Istanbul and the capital Ankara. The company provides corporate clients with a smart and cost-effective alternative to public transportation or ride hailing for commuters by utilizing a network of smartly routed shared buses.
Under the visionary leadership of our Founder and CEO, Ali Halabi, Volt Lines has flourished and innovated, earning the trust and loyalty of numerous corporate clients, including prestigious names such as ICBC, Mondelez, Axa Insurance, Pirelli, CMA-CGM, MetLife, and many more. It’s our team’s dedication and the support of our valued clients that have propelled us to this significant moment.
Today, we are thrilled to announce our merge with Swvl, a company that shares our passion for expanding opportunities and reducing emissions through forward-thinking mobility solutions. This strategic move opens up new horizons for Volt Lines and our commitment to providing innovative, sustainable, and accessible transportation alternatives for commuters.
Ali Halabi, Founder and CEO of Volt Lines, expressed his enthusiasm: “When we launched Volt Lines four years ago, we set out to deliver a revolutionary transit experience to make commuting more reliable and affordable in Istanbul. With Swvl’s global footprint, leading technology platform, and proven ability to scale, we believe they are the ideal partner for Volt Lines to accelerate the expansion of our platform. We are confident our solutions will meaningfully contribute to the Swvl platform, and together we will be able to deliver superior transportation alternatives for commuters around the world. We’re also excited about scaling our R&D center in Istanbul into a global technology hub, giving Swvl reliable access to Turkey’s technical talent.”
Mostafa Kandil, Swvl Founder and CEO, shared his thoughts: “Volt Lines shares Swvl’s unwavering commitment to expanding opportunities and reducing emissions through forward-thinking mobility solutions. With this acquisition, we are deepening our presence in Europe, immediately expanding our enterprise client base, and continuing to deliver on our growth objectives. We look forward to welcoming the Volt Lines team to the Swvl family and working together to realize our shared vision of revolutionizing mass transit systems around the world.”
Youssef Salem, Swvl CFO, emphasized: “The acquisition of Volt Lines expands on Swvl’s position as a leader of mobility solutions, with a clear opportunity to scale the platform globally. Volt Lines brings an extensive list of multinational customers that we are excited to continue growing relationships with as we provide them with the transportation solutions they need. This acquisition marks another decisive step that Swvl has taken to expand its footprint and diversify our offerings globally. As always, we are evaluating a host of compelling opportunities to further our position as a leading provider of tech-enabled mobility solutions.”
This collaboration between Volt Lines and Swvl promises to usher in a new era of innovative and sustainable mobility solutions, benefiting not only our valued clients but also communities worldwide. The transaction is subject to customary closing conditions and is expected to be completed in Q2 2022.
As we embark on this exciting journey with Swvl, the Volt Lines team extends heartfelt gratitude to our dedicated employees, loyal clients, and partners who have been instrumental in our growth. We look forward to the opportunities, innovation, and positive change that lie ahead as part of the Swvl family.
