Business & Technology

Egyptian Swvl Acquires Turkish Subscription-based Transportation Service Volt Lines

Egyptian Swvl Acquires Turkish Subscription-based Transportation Service Volt Lines

Photo via Enterprise Press

Cairo-born shared transportation service provider Swvl has acquired Turkish transportation-as-a-service operator Volt Lines, further expanding its operations.

This marks Swvl’s fourth acquisition since August 2021, after Spain’s Shotl, Latin America’s ViaPool, which operates in Argentina and Chile, and Berlin-based Door2Door, operating across Europe.

Although Swvl did not disclose the financial details of the deal, according to Bloomberg, the sale values Volt Lines at $40 million.

On their official Instagram account, Volt Lines said they were “thrilled” at the news. “The acquisition comes with another USD 25 million [EGP 463 million] on top to be invested in Turkey,” the post said.


View this post on Instagram


A post shared by Volt Lines (@voltlines)

Founded in 2018, Volt Lines provides corporate clients with an alternative to public transportation or ride-hailing by using a network of shared buses.

Dubai-based Swvl was founded by Egyptian entrepreneurs Mostafa Kandil, Mahmoud Nouh, and Ahmed Sabbah in 2017. The three friends started the company as a bus-hailing service in Egypt to fix the problem of transportation, later expanding with other ride-sharing services in emerging markets.

Today, Swvl operates through an app in 115 cities across 18 countries and four continents.

Egyptian Archaeological Team Unearths Zeus Cassius Temple Remains
Egypt Introduces the First Psychotherapy Clinic for Abused Women

Subscribe to our newsletter

Business & Technology

A journalism graduate from the American University in Dubai who is curious, spontaneous, and often rebellious, Marina is a passionate Cairo-based journalist who aspires to become one of the most influential women in the Middle East. She likes to follow her heart and express that through words; her favorite form of expression.

More in Business & Technology

Social Media Reacts to Vodafone Egypt Mother’s Day Advertisement

Amina Abdel-Halim21 March 2023

HYDRO: Discover This Working Mother’s Twist on Modest Swimwear in Egypt

Amina Zaineldine21 March 2023

Will Egypt be Home to the World’s Largest Man-Made River?

Egyptian Streets20 March 2023

Inside ‘Dear Guest’, Egypt’s First-Ever One-Day Award Show

Egyptian Streets18 March 2023

Explainer: How Can Egyptians Abroad Import Tax-Free Cars to Egypt?

Egyptian Streets16 March 2023
Meet the best friends who founded GALOS, a community hangout nestled in Wonderville, Mountain View Ras El-Hikma. Photo credit: Egyptian Streets

Meet the Dynamic Egyptian Duo Behind GALOS, a Cozy Sahel Community Hub

Egyptian Streets14 March 2023

6 Ways to Celebrate Ramadan on a Budget

Marina Makary14 March 2023
Ahmed Shalaby is one of the founders of 4A Nutrition and their brand Lino Oats. Photo credit: Egyptian Streets

Ancient Grains to Modern Mornings: Lino Oats Brings Oats to Egyptian Breakfast Tables

Egyptian Streets12 March 2023