Volt Lines (Nasdaq: Swvl) is a technology powered mobility platform aiming to solve urban mobility problems. We view empty seats in traffic as both the cause of the problem and its solution. There are more than 50,000 buses in Istanbul operating at 9% efficiency and we want to solve this problem. Making shuttle buses smarter, more efficient and dynamic, we create an alternative transportation network that can replace even car ownership. Companies and other institutions can benefit from the Volt Lines transportation network for the daily commute needs of their staff.
Volt Lines is acquired by Swvl in 2022, a transformative tech-enabled mobility platform based in Dubai that enhances the safety, reliability, and convenience of mass transit in some of the world's most challenging and complex emerging markets. It is uniquely positioned to capitalize on the $1tn global mass transit market opportunity with daily commuting, inter-city retail travel, and TaaS transportation solutions. Swvl currently operates in 32 cities and 16 countries across Europe, Africa, Asia, the Middle East, and Latin America. Swvl is the first $1bn+ unicorn from the region to list on NASDAQ and the first mass transit solutions company on any exchange.
As part of the deal, Volt Lines received $25M of investment which gives us enough capital to exponentially grow our presence in the mass transportation market in Turkey and deliver the best service and best technology products for our customers, passenger and drivers.
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