Swvl Holdings Corp (NASDAQ: SWVL) disclosed that it has inked a definitive deal to buy Volt Lines, a B2B, and Transportation as a Service mobility company based in Turkey. Swvl has recently acquired controlling shares in Shotl and Viapool, as well as a prospective acquisition of door2door, and this transaction is based on these acquisitions.

Volt Lines, which was founded in 2018, has a strong presence in key Turkish cities such as Istanbul and the capital, Ankara. By leveraging a network of intelligently routed shared buses, the company offers corporate clients smart and cost-effective choices of transportation or ride-hailing for commuters.

Volt Lines facilitates continuous and reliable commutes for employees of more than 110 organizations with its monthly subscription option, which promotes productivity for all stakeholders. Ali Halabi, the founder, and CEO of Volt Lines will continue to run the Turkish firm in the future.

Swvl's B2B offerings will be expanded as a result of the transaction with Volt Lines, which will help bolster Swvl's position as the leading global provider of tech-enabled mobility solutions by connecting passengers to drivers through their employers to develop direct routes with flexible departure times. It has approximately 110 enterprise customers, including numerous global corporations who use Volt Lines to enable commuting for thousands of employees every day.

Swvl's existing worldwide hubs in Spain, Germany, Egypt, and Pakistan will be supported by the acquisition of Volt Lines, which will include a dedicated tech and R&D facility. Volt Lines is expected to grow at a 127 percent CAGR in revenue from its introduction in 2018 to the end of 2022, as well as a 714 percent rise in consumers from 2018 to the end of 2021.