Popular ride-hailing platform Lyft is expanding into Europe with the acquisition of FREENOW, a German-based company.
FREENOW, similar to Lyft, operates a ride-hailing platform that covers nine countries and 150 cities, including Austria, France, Germany and Spain. According to Lyft, FREENOW also has strong relationships with local regulators and fleet operators, which will complement its tech-focused platform during its largest expansion to date.
“We’re on an ambitious path to build the best, most customer-obsessed mobility platform in the world, and entering Europe is an important step in our growth journey,” David Risher, CEO of Lyft, said in a statement. “We found the perfect partner in FREENOW and can learn a lot from the team. FREENOW’s local-first approach mirrors Lyft's values and embodies our purpose — to serve and connect.”
Lyft’s acquisition of FREENOW is the company’s first acquisition of another ride-hailing platform. Previous transactions included bike rental platforms and technology startups like YesGraph and Blue Visions labs. According to Lyft, this latest acquisition will be its largest expansion outside the United States and could dramatically increase its vehicle trips per year.
The acquisition is expected to close in the second half of 2025, after which FREENOW will continue to operate under its current name.
