Lyft has finalized its €175 million acquisition of FreeNow, a European taxi app previously owned by BMW Group and Mercedes-Benz Mobility. This marks Lyft's first expansion beyond North America, establishing a foothold in the European market. The deal received all necessary regulatory approvals, paving the way for Lyft to compete with established ride-hailing services across Europe. FreeNow's existing network and technology are expected to bolster Lyft's growth and market share in the region, diversifying its revenue streams and reducing its reliance on the US and Canadian markets.