Lyft to buy FreeNow for €175m

Ridesharing US company to enter the European market

FreeNow will continue operating as it does today across nine countries; Ireland, the United Kingdom, Germany, Greece, Spain, Italy, Poland, France, and Austria.

US transport firm Lyft is buying mobility platform FreeNow from German automotive giants BMW and Mercedes-Benz for €175m to expand into the European ride-hailing market.

Under pressure from dominant ride-hailing rival Uber Technologies in its home North American market, Lyft has been seeking new avenues to grow its business.