Press Release, 16/12/2016
New Capital in European Leader in Travel Technology to Further Drive Expansion Plans ++ General Atlantic, Holtzbrinck Ventures and Daimler Participate in New Investment Round
Munich/London – December 16, 2016 – FlixBus, one of Europe’s leading innovators in travel technology, and Silver Lake, the global leader in technology investing, today announced that Silver Lake has made a strategic investment in the company. Existing investors General Atlantic, a leading global growth investor, Holtzbrinck Ventures and Daimler also participated in the investment round.
Revolutionizing European long-distance travel since 2013, FlixBus is a provider of convenient, affordable, and safe intercity bus travel to more than 60 million passengers since inception, through 100,000 daily connections to 1,000 destinations in 20 countries across Europe. The company works with more than 250 independent bus partners to offer a comprehensive network in Germany, France, Italy, Austria, and the Netherlands, as well as cross-border services to countries including Scandinavia, Spain, and the UK.
The FlixBus e-commerce and technology platform provides a high-quality customer experience, and enables the company to work effectively with its independent bus partners who operate the network while FlixBus focuses on network and capacity planning, quality management, and sales and marketing. Powered by a superior technology, the company offers paperless travel, booking and delay management on its mobile app, data driven network development, and dynamic pricing similar to airlines.
“We have created an innovative, entrepreneurial and powerful European mobility offering that continues to change the way people travel,” said Jochen Engert, co-founder of FlixBus. “We look forward to working in partnership with Silver Lake, a leading investor that brings technology industry expertise and value creation capabilities. This strategic alliance, along with our continued partnership with General Atlantic, is an acceleration point for both our company and our customers as we expand the business into new markets and strengthen our technology platform.”
“FlixBus is using technology and data analytics in innovative ways to provide consumers with a quality intercity transport service, working very effectively with a large group of independent bus partners to provide the service,” said Simon Patterson, Managing Director at Silver Lake. “There’s a tremendous opportunity to continue to develop the offering and expand in new countries, and we look forward to supporting the company’s technology innovation and growth. The company has already completed a number of acquisitions and Silver Lake is well positioned to support the company with further capital for M&A.”
“FlixBus has seen success by leveraging its technology and quality innovations, to deliver a best-in-class service to over 60 million passengers and its bus partners,” said Jörn Nikolay, Managing Director and Head of Germany at General Atlantic. “Having supported the founders on FlixBus‘ growth path over the last years, we are excited to continue our partnership in this next chapter, now joined by our new partner Silver Lake.”