FlixMobility the leading tech-mobility company for intermodal and sustainable transport, announced more than $650M in new funding today based on a mix of equity and debt, valuing the business at $3Bn. The oversubscribed Series G funding round includes new investor Canyon Partners, a growth-oriented investment firm with a successful track record in the technology and infrastructure sectors and participation from existing investors and FlixBus founders. Existing investors include General Atlantic, Permira, TCV, HV Capital, Blackrock, Baillie Gifford and SilverLake, among others.
This milestone signals a clear acceleration of the Company’s mission to provide affordable and sustainable transport solutions through its global, intermodal offer of bus and rail. This funding will fuel the network expansion strategy in new and existing geographies as well as bolstering investments in technology to optimize the platform. With a proven business model, enhanced financial profile and supportive investors, FlixMobility is ready to scale.
André Schwämmlein, Founder and co-CEO, said: “62 million passengers travelled with us in 2019, and this new funding will help us build on our success. We are confident in our ability to offer green mobility to even more people in the future through both an expanded network offering on rail and road in our existing markets, as well as in new countries and continents. We want to make green, affordable mobility accessible to as many people as possible. We are confident the UK will become one of our most important markets in Europe, starting with a massive expansion on domestic routes this year.”
Andreas Schorling, Managing Director FlixBus UK: “We believe it will be a great year for domestic travel. In 2021, FlixBus will be offering the second biggest network across the country and is on a clear path to become the largest UK player by 2025. The restart of our operation has been very successful, and we expect millions of travelers already this year.”
The company’s new valuation of more than $3 billion is significantly higher than the valuation of the last financing round in 2019, underlining the strong investor support for FlixMobility and the success of its unique business model. FlixMobility is particularly focused on further growth through expansion in new and existing markets as well as expanding its train business in Germany and Sweden. The company has successfully navigated the pandemic through closely managed network adjustments and heavy investments in technology and automation.
“The recent financing is a strong sign for the future and for our vision to provide sustainable mobility with FlixBus and FlixTrain to people all over the world,” said Jochen Engert, founder and co-CEO of FlixMobility. “With the closed financing, we are well positioned for future international growth and expansion plans with FlixTrain and FlixBus.”
Fueling growth in existing markets and expanding into new regions
In addition to FlixTrain, investments will also flow into the targeted expansion of the global FlixBus network. FlixMobility’s clear goal is to become a market leader in the UK, the US and Portugal, and to further expand its leading position in Turkey, France and Eastern Europe. The company is also planning to expand into new markets.
The fact that FlixMobility has managed the pandemic and emerged strong is evident by its expansion after the first wave in spring 2020. Last year, the company was quick to adapt to the rising demand, ramping up its business instantly and launching its first domestic routes in the UK in July 2020.
This post was published on %s = human-readable time difference 9:33 pm