Lyft acquires Freenow for €175 million

Change of hands in the on-demand taxi and VTC platform sector. Lyft, one of the leading US platforms and Uber's main competitor in the United States, announced this Wednesday the definitive agreement for the acquisition of Freenow, one of the largest mobility applications in Europe. The purchase price will be €175 million in cash. The agreement aims to increase gross bookings to €1 billion annually, diversifying revenue sources and supporting the company's multi-year objectives. The transaction is expected to close in the second half of 2025.

"We are on an ambitious path to build the world's best mobility platform, entirely focused on our own growth," said David Risher, CEO of Lyft, in a statement. "In Freenow, we've found the perfect partner, and we're convinced we have a lot to learn from their team," he says.

For its part, Freenow is Europe's leading multi-mobility app, offering car service, all taxi services, electric motorcycles, bicycles, scooters, and public transport. In Europe, the taxi aggregation business is solid and growing. We hope that these will continue to be the cornerstone of its business.