The Mexican shared mobility startup Urbvan announced it was acquired by Swvl, the global provider of tech-enabled mass transit solutions through a $82M deal.
Urbvan was created to improve the shared mobility experience. It works as a three-sided marketplace that connects users, organizations, and third-party vehicles to create mobility networks. Urbvan integrates mobility patterns with a car-sharing aggregation platform.
In addition to upgrading the users’ quality of life, the startup is also raising transportation safety standards across large geographic distances. Currently, the company operates in 18 cities in Mexico and its solutions include urban and interurban routes, private services, and services for companies.
Swvl also created mass transit technology solutions, but it is present in 146 cities in 21 countries. This company provides an alternative to public transportation for people who cannot access private mobility options, offering them semi-private mobility services. Mostafa Kandil, founder and CEO of Swvl, explains:
“Urbvan was founded on the same principles as Swvl: to provide a solution that addresses the inefficiencies of traditional transportation in many parts of the world. Urbvan has a significant presence in Mexico, an impressive set of B2C and B2B mobility-as-a-service (MaaS) offerings, and strong relationships with local governments.”
This deal will create synergies between both companies, as they are joining forces to provide a smarter, faster, safer and more affordable transportation experience.