Lyft acquires Free Now for $200 million to enter European market

From CNBC: 2025-04-16 07:30:00

Lyft has announced its acquisition of European taxi app Free Now in a 175 million euro ($199 million) deal, marking its first move into the European market. Once combined, the two companies will serve over 50 million annual users across nine countries, offering various mobility options beyond traditional rides.

Free Now, originally founded as myTaxi in 2009, is jointly owned by German automotive giants BMW and Mercedes-Benz. The ride-hailing platform operates in over 150 cities, generating gross bookings of over 1 billion euros in 2024. This acquisition provides Lyft with a pathway into the competitive European ride-hailing market, putting it in direct competition with Uber, Bolt, and Gett.

Despite facing regulatory challenges, Uber, Lyft’s domestic rival, has been operating in the U.K. since 2012. London’s transport regulators have attempted to ban Uber over safety concerns, but the company was recently granted a new license to continue operating in the city in 2022. The acquisition of Free Now will allow Lyft to expand its presence in Europe and compete with established players in the region.

Read more: Lyft to buy taxi app Free Now for $200 million to expand into Europe