Press release 08/01/2015
++ Two German success stories set their sights on Europe ++ MeinFernbus FlixBus: “1.000 green buses at the end of the year” ++ Unique Startup-Strategy based traditional mid-tier industry ++ 10.000 new Jobs since liberalization of the German market ++ New growth investor General Atlantic ++
Berlin and Munich, 08/01/2015 – FlixBus and MeinFernbus become one. Germany’s two largest bus service start-ups plan to pool their strengths to build a pan-European bus network. Over the next few months, Berlin-based MeinFernbus and Munich-based FlixBus will be connecting their national networks to create a comprehensive range of routes. Together with their 160 bus partners both companies aim to take Europe by storm.
Jochen Engert, co-founder of FlixBus: “We are pooling our strengths to achieve a shared aim and have our sights firmly fixed on Europe.”
Torben Greve, founder of MeinFernbus: “Buses will soon be running more frequently, journey times will reduce, and tickets will still be the same great value. All thanks to what will soon become Europe’s best bus network. In the next months, we will connect new destinations in Europe, such as Brussels and Paris. Additionally, new nightlines will connect all the main axes and the largest European cities. This way our passengers can reach their destination safe and sound asleep. “
While they each bring different strengths to the table, the success of the two start-ups is based on a similar business model: they both combine innovation with the experience and quality of their bus partners.
André Schwämmlein, co-founder FlixBus said: “Right from the start, the founders of both companies have aimed for rapid growth, a comprehensive route network, and partners instead of simple subcontractors. Therefore, innovation, entrepreneurial spirit and apowerful European mobility brand come together with the experience and quality of a traditional mid-tier industry. Instead of working against each other our SME partners can now work together.”
Besides a new way to travel, the liberalization of the German market and the boom of long-distance buses promoted middle and small economies all over the country. The success story “Made in Germany” is born from small and medium sized enterprises and created about 10.000 new employments in the last three years. Besides the two startups established new travel comfort standards and a powerful international mobility brand.
André Schwämmlein: „Our strategy and our close cooperation with other businesses is internationally unique. Through two years of tough competition, we have made each other strong. Now we can use this experience from the German market to compete internationally. Our mutual aim is 1,000 green long-distance buses by the end of the year.”
An investment by global growth investor General Atlantic will enable the newly combined company to expand its network across Europe. Jörn Nikolay, Head of General Atlantic in Germany: “Bus travel is a dynamic industry and has an enormous growth potential in Europe. Since the market opened up in early 2013, bus travel has grown tremendously – and is poised to grow even further. As a growth investor, General Atlantic is supporting a merger between two leading players. In doing so, we are strengthening the equity base of the resulting company and supporting the founders of MeinFernbus and FlixBus in their European expansion efforts.”
Alongside General Atlantic, current FlixBus shareholders Holtzbrinck Ventures and UnternehmerTUM are also providing the new company with financial backing.