Dubai-based tech-enabled mass transit solution provider Swvl has acquired European mobility platform Door2Door in a bid to expand to central Europe.
Terms of the deal have not been disclosed, but it follows Swvl’s entry into the European market via its acquisition of mass transit platform Shotl in 2021.
Founded in 2012, Door2Door provides on-demand mobility, multimodal routing and mobility analytics to municipalities, public transit operators, corporations and automotive companies in an effort to make cities smarter.
Its mobility-as-a-service platform integrates into existing transit networks and has been deployed 70 times across 10 European countries and approximately 24% market share in Europe’s largest mass transit market, Germany.
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With Door2Door, Swvl expands its geographic footprint to more than 20 countries on four continents and promotes technology integration and new partnerships.
When combined with Shotl, it also provides Swvl a springboard to tap into the $22.5 billion SaaS/TaaS market in Europe.
"Swvl and Door2Door share an ongoing commitment to disrupting traditional public transportation systems with tech-enabled mobility solutions focused on accessibility, convenience and sustainability,” says Mostafa Kandil, Swvl founder and CEO.
Adds Dr. Tom Kirschbaum, Door2Door co-CEO: "We are excited to embark on this next phase of growth alongside the Swvl team. We have been impressed by Swvl's ability to rapidly scale its business while continuing to provide best-in-class, transformative mobility solutions for customers. Now we are looking forward to leveraging the combined capabilities of our platforms to alleviate many of the burdens and inefficiencies posed by traditional commuting methods."
Swvl’s latest acquisition moves it closer to closing its business combination with the SPAC Queen’s Gambit Growth Capital.