Freenow, which aggregates taxis and private vehicles across over 150 cities in Europe, including major hubs like Dublin, London, and Berlin, has a strong foothold in the region.

Freenow's recent exit from the Portuguese market, where it ceased operations in April 2023, reflects the challenges faced in the competitive mobility landscape.

This announcement follows Bolt's acquisition of Danish taxi startup Viggo, highlighting the ongoing competitive climate in the European taxi app market.

The sale of Freenow follows the divestment of Mercedes and BMW from their unsuccessful mobility platform 'Share Now', which previously included a car-sharing service sold to Stellantis.

Lyft, the US mobility platform, is set to acquire the German provider Freenow for approximately 175 million euros, marking its first significant international expansion into the European market.

This acquisition comes on the heels of Lyft reporting its first net profits, as highlighted by CEO David Risher, signaling a pivotal moment for the company.

Current operations of Freenow will remain unchanged initially, but enhancements are planned to improve user experience, including better pricing and trip matching.

The acquisition aims to enhance product experiences and service quality, while also strengthening fleet management capabilities for both Lyft and Freenow.

Lyft and Freenow plan to integrate their platforms, allowing users seamless access to services across North America and Europe, while maintaining Freenow's customer experience initially.

Thomas Zimmermann, CEO of Freenow, emphasized that this partnership marks a significant step towards enhancing their role in European mobility, aligning Lyft's customer-first approach with Freenow's taxi industry expertise.

The transaction is expected to close in the second half of 2025, coinciding with Freenow's recent growth milestones, including a 13% year-on-year growth and reaching break-even.

Once finalized, the acquisition will enable both companies to operate jointly in 11 countries, serving a combined customer base of 50 million annually.