The final agreement on the acquisition of FreeNow was approved on 16 April by LyftThe transaction is due to be completed in the second half of 2025. The American VTC has acquired its European counterpart for €175 million ($197 million). So FreeNow is leaving the BMW-Mercedes fold to launch Lyft's offensive on the Old Continent. The new entity will cover 11 countries: the United States and Canada, and soon, via FreeNow, the rest of Europe. FranceIreland, the UK, Germany, Greece, Spain, Italy, Poland and Austria. According to Lyft FreeNow is the leading taxi platform in Dublin, London, Athens, Berlin, Barcelona, Madrid and Hamburg..
In total, Lyft aims to transport some 50 million users each year. For the management of the American platform, this is " Lyft's largest expansion outside of North America, nearly doubling Lyft's total accessible market to more than 300 billion passenger vehicle rides per year, increasing annualized gross revenue by approximately €1 billion, diversifying revenue streams and supporting Lyft's multi-year goals. ".
In this way, the American giant intends to position itself as a a global player in mobilityAs its CEO David Risher explains - with a certain humility: " Our ambition is to create the best customer-focused mobility platform in the world, and our entry into Europe is an important step in our growth. We've found the perfect partner in FreeNow and have a lot to learn from their team. FreeNow's local approach reflects Lyft's values and embodies our mission to serve and connect. ".
" Our alliance with Lyft is a major step forward for FreeNow and marks the beginning of an ambitious new phase in which we will strengthen our leadership role in mobility in Europe. "says Thomas Zimmermann, CEO of FreeNow. " Lyft's strong, customer-focused experience is a perfect match for our deep roots in the taxi industry. Together, we will push the boundaries and raise the expectations of fleet owners, taxi drivers and passengers across the continent. We stand alongside the industry, not above it, and we remain proud partners of the community. This collaboration is about combining our strengths, learning from each other and developing what works best. ".
Lyft's managers confirmed these comments, highlighting what they expected from this acquisition in terms of expertise in the European market: FreeNow must " bring its leading European taxi expertise, fleet management technology and strong relationships with regulators, unions and taxi fleet operators in all markets ". According to Lyft's analysis of the European market, the taxi aggregation sector is strong and growing," and almost 50 % of bookings are still made offline. The combined expertise of the two players promises solid potential.
