FlixMobility, the parent company of FlixBus and FlixTrain, has raised $650 million in funding, valuing the Germany-based tech-mobility company at $3 billion.
The Series G round, based on a mix of equity and debt, includes new investor Canyon Partners as well as existing investors General Atlantic, Permira, TCV, HV Capital, Blackrock, Baillie Gifford, SilverLake, and the FlixBus founders.
FlixMobility will use the fresh capital to expand its FlixBus offerings in the United States, as well as grow the FlixBus and FlixTrain networks across Europe.
The company says its new valuation of more than $3 billion is “significantly higher” than FlixMobility’s last financing round in 2019, “underlying the strong investor support for FlixMobility and the success of its unique business model.”
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FlixMobility credits closely managed network adjustments and heavy investments in technology and automation in helping it navigate the challenges brought on by the pandemic.
Pierre Gourdain, managing director for FlixBus USA, says that in some U.S. states, such as Florida, FlixBus’ offerings already exceed 2019 levels and that by July 4, 2021, its U.S. network will be bigger than pre-pandemic.
Says André Schwämmlein, FlixMobility co-founder and co-CEO: “Sixty-two million passengers traveled 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. The United States in particular offers immense potential for this given heightened demand for sustainable travel, along with FlixMobility’s impressive track record of reducing emissions while providing best-in-class service to our customers. We see the U.S. as our largest market in the future and we will continue to expand our presence this year.”
Hear FlixBus co-founder and CEO Jochen Engert on the How I Got Here podcast below.
How I Got Here, episode 45 - Jochen Engert