Swvl acquires transport startup Urbvan in an $82 million deal

Swvl acquires transport startup Urbvan in an $82 million deal
Photo by Markus Winkler / Unsplash

Latin America-based mobility startup, Swvl Holdings Corp., has acquired Urbvan, a transportation startup for $82 million, expanding its presence to 164 cities in 22 countries including Brazil, Argentina, and Chile.

  • The acquisition will enable the startup to improve its stack of technology and advance its mobility offerings.
  • Both Swvl and Urbvan target covering the inefficiencies of traditional transportation using innovative technological solutions and providing smart and safe transport experiences for users.
  • Swvl will now have access to 18 cities where Urbvan has registered its presence and its mobility operations such as UrbvanCity, UrbvanTravel, UrbvanTeams, and UrbvanRental.
  • The merger will improve urban transportation services in Mexico and Latin America and reduce carbon emissions, the startups claim.