Europe’s mobility leader is gearing up for global expansion ++ Series F funding recently kicked off with investments by TCV, Permira & HV Holtzbrinck Ventures ++ Equity raised will fuel expansion of FlixBus network in the United States as well as market-entries in South America and Asia and the rollout of FlixTrain & FlixBus Charter ++ FlixCar ride sharing brand to launch in 2020 to complement existing bus and train networks in EU
New York/Munich (August 8, 2019) – Global mobility provider FlixMobility GmbH, the parent company of FlixBus and FlixTrain, has extended its Series F funding round by partnering with Baillie Gifford, Luxor Capital Group, Odyssey 44 and additional investment provided through funds and accounts managed by BlackRock. Earlier this month the funding round was kicked off by exciting new partnerships with TCV and Permira and a joint co-investment by long-term investor HV Holtzbrinck Ventures and European Investment Bank.
The capital raised will be used to fuel further global expansion, but also launch an all-new FlixMobility service, FlixCar, a ride sharing platform that will complement the existing FlixBus and FlixTrain networks, as well as the company’s fast-growing charter platform. Attaining market leadership in the United States with FlixBus has been a priority since the market entry last year, but 2020 will also see green buses in South America and Asia. For the FlixTrain brand, the investment will help expansions into new EU countries following next year’s liberalization of the European rail market in addition to growing the product within the German market where FlixTrain already operates multiple cross-country routes.
“We are humbled by the overwhelming enthusiasm of highly renowned investors to help us offer smart, affordable and sustainable mobility to even more people”, said Jochen Engert, CEO and founder of FlixMobility. “With the backing of Baillie Gifford, Luxor Capital Group, Odyssey 44 and BlackRock, through funds and accounts it manages, we are well equipped to bring our highly ambitious plans to life. We came a long way from entering the market as a German start-up only 6 years ago to being a European mobility leader. Next stop: green mobility all around the globe.”
The newest FlixMobility investors join existing shareholders including General Atlantic, a leading global growth equity firm, and Silver Lake, a global leader in technology investing, who have helped the company rapidly grow from start-up to global mobility provider.
From German Startup to World-Leading Mobility Player
Revolutionizing European long-distance travel since 2013, FlixMobility is a provider of convenient and affordable intercity travel to millions of passengers, with 45 million people using FlixBus and FlixTrain in 2018 alone, through 350,000 daily connections to over 2,000 destinations. FlixMobility is the undisputed market leader across Europe and expanded to the US in 2018 for service to a total of 29 countries. The company works with more than 300 independent bus and train partners and has created over 10,000 jobs in the industry.
In 2018, FlixTrain was launched, bringing the FlixBus model to the rail industry in Germany. In 2019, the company also applied for rail tracks in Sweden and France in preparation of expanding FlixTrain with the upcoming liberalization of the European railway.
Approximately 1,300 employees work for FlixBus and FlixTrain within 19 offices in 17 countries. By working with employees on the ground within FlixBus markets, the company is able to consistently adapt to both the market and local customer needs.
Options for Every Traveler: The Launch of FlixCar
With FlixBus and FlixTrain, FlixMobility offers an ever-expanding and integrated network, enabling people to plan flexible and customizable journeys. In an effort to bring smart and green mobility to even more people – and to offer even more door-to-door connections – FlixMobility is preparing the launch of FlixCar, a car-pooling service perfectly suited to expand the network offering to even more destinations.
“From the very beginning, we have positioned ourselves not as a bus or transportation company, but rather a mobility provider: we offer smart, affordable and climate friendly travel, whether by bus, train or – soon – ride sharing,” said Engert. “FlixCar is a logical next step in extending our network so that we can enable even more people to experience the world. On average, the occupancy rate for cars is a mere 1.5. Ride sharing is a great way to split fuel costs and lower your impact on the climate.”