Close to 8M people use inter-city commuter routes in Mexico. That might seem a small percentage of the 130M population in the country, but the commuters are increasing steadily and existing options are not meeting the needs. As Latin America’s leading app-based mass transit mobility network, Urbvan is solving this multi-layered problem for millions of commuters. Founded 6 years ago, Urbvan now offers transportation logistics services covering vast distances.
Before and after
Nine months ago, Angel Ventures, a prolific VC based out of Mexico, also a Capria network investing partner, proposed that we look into Urbvan, which they had invested in from the very beginning. Impressed by their statistics and economics, we invested in Urbvan as well, in October 2021, along with others, helping them build their business as Mexico recovers from the pandemic. Nine months later, we’re happily surprised to report that Urbvan has been acquired by Swvl Holdings, a global provider of transformative tech-enabled mass transit solutions. The publicly-traded company is rapidly expanding its global network of similar services and recognized Urbvan to be the best partner for the second-largest market in Latin America. Read more about why Swvl picked Urbvan here.
Capria extends a big congratulations to Renato Picard and João Matos Albino, Urbvan Co-Founders and Co-CEOs, who are geared up along with their stellar team to accelerate the combined capabilities to provide safe, efficient, and affordable shared mobility options, now beyond Mexico. Swvl’s experience of rapidly scaling its platform globally while providing best-in-class mobility solutions and ensuring that both employees and users shall remain a top priority for both Urbvan and Swvl.
Capria Ventures helps early- to early-growth stage tech companies achieve hyper-scale and develop into market leaders. Capria’s investment thesis for Urbvan was focused on investing in solutions that bridge the multi-layered gaps in mass rapidly-growing markets. This acquisition provides Capria and other Urbvan investors partial liquidity plus a nice upside potential as Swvl continues to grow. We could not be more pleased to have been a small part of their success and to deliver a 60-100 percent IRR to our investors on our very first exit.