Dubai unicorn Swvl taps UK market with Zeelo acquisition
Swvl expects the deal to get through regulatory approval next month
Dubai: The Dubai-based unicorn Swvl is all set to own the UK’s largest smart bus platform Zeelo. This comes after Swvl’s recent acquisitions of Viapool and Shotl, and will help the Nasdaq-listed tech entity expand its business operations in three strategic markets including the UK, South Africa and the US. Swvl offer on-demand public transport access.
Zeelo has a commitment to drive the shift from single-occupancy vehicles to zero-emission mass transit and deploying transportation services to connect people. The acquisition is expected to be completed in May.
“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,” said Mostafa Kandil, Swvl CEO. “Zeelo rapidly advances our leading market position as a provider of technology-enabled mass transit solutions on a global scale.”
Transaction highlights
The transaction will help the Dubai company:
- Deepen market reach in the attractive UK market and provides an entry point into the US and South Africa.
- The TaaS (transport as a service) platform connects riders via their employers and schools to operators and drivers.
- SaaS (software as a service) licensing platform enables third-party fleet operators to manage their own program.
- Asset light-delivery model will partner existing fleet partners, including over 200 bus operators in the UK and the US.
“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,” said Sam Ryan, Zeelo’s CEO. “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.”
Its services model includes a driving accreditation school, contracted fleets, and proprietary technology including a SaaS platform and multiple customer apps.