Swiftly: Aster Capital Partners Celebrates Successful Exit
Deal News | Jun 16, 2025 | Aster Capital Partners SAS
Aster Capital Partners SAS, a private equity firm, has announced its successful exit from its US portfolio company, Swiftly. This exit follows a strategic investment led by Cove Hill Partners, enabling Swiftly to enhance its product development and strengthen its global position in public transportation services. Since Aster's partnership with Swiftly in 2019 during a $10 million Series A round, Swiftly has evolved from serving 50 transit agencies to supporting 190 agencies across 12 countries. The company now plays a significant role in improving 2.4 billion passenger journeys annually. Despite challenges during the COVID pandemic and tech market fluctuations, Swiftly has emerged robustly, culminating in the acquisition of Hopthru in 2024. Aster reflects on the strategic moves by CEO Jonny Simkin and his team that paved the way for Swiftly's growth and expansion into European markets. With Aster's complete exit, Swiftly stands on the precipice of a new growth phase.
Sectors
- Private Equity
- Public Transportation
- Technology
Geography
- United States – Swiftly primarily operates in the US, and the exit involves a US-based company.
- Europe – Swiftly has expanded into European markets, securing contracts in cities like Paris and Madrid.
Industry
- Private Equity – The article revolves around the exit strategy of a PE firm, Aster Capital Partners.
- Public Transportation – Swiftly specializes in providing data platforms for public transit agencies, making public transportation a key industry.
- Technology – Swiftly operates as a global data platform for transit data, indicating its close connection with the technology sector.
Financials
- $10 million – Amount raised during Swiftly’s Series A round co-led by Aster in 2019.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Aster Capital Partners SAS | Selling Company | Company | Aster Capital Partners is the private equity firm exiting its investment in Swiftly. |
| Swiftly | Target Company | Company | US-based global data platform for public transportation, acquired by Cove Hill Partners. |
| Cove Hill Partners | Bidding Company | Company | The investment firm leading the strategic acquisition of Swiftly. |
| Jonny Simkin | CEO of Swiftly | Person | Co-founder and CEO guiding Swiftly's expansion and strategic decisions. |
| Joaquin | European Director of Swiftly | Person | Involved in Swiftly's European expansion and strategic decisions. |