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.