FlixMobility, the parent company
of FlixBus and FlixTrain, has raised a Series F funding round co-led by TCV and
Permira with participation from existing investor Holtzbrinck Ventures.
The company declined to reveal the funding
amount but sources told Reuters it was $561 million.
FlixMobility says it will use the money
to expand the FlixBus network in the United States and to launch in South
America and Asia. It will also expand the FlixTrain brand in Europe, beyond its
existing service in Germany, and launch a new ride-sharing platform, FlixCar,
in 2020.
“What began in 2013 as a German
startup has become a powerful mobility platform that continues to change the
way millions of people travel across Europe and the United States,” says Jochen
Engert, CEO and founder of FlixMobility.
“Through our strategic partnership
with TCV and Permira, which have decades of experience and a portfolio of
world-leading technology companies, we will accelerate our growth to offer
smart and green travel to more people across the world via the FlixBus, FlixTrain
and soon FlixCar brands, while strengthening our position in existing markets.”
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FlixMobility says 45
million people used FlixBus and FlixTrain in 2018 to more than 2,000 destinations.
The company now operates
in 29 countries and works with more than 300 independent bus and train
partners. It launched FlixTrain in Germany in 2018 and this year has applied
for rail tracks in Sweden and France.
“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,” Engert says. “FlixCar
is a logical next step in extending our network so that we can enable even more
people to experience the world.”
Says TCV general partner John
Doran: “We could not be more excited to
partner with Jochen, André, Daniel and the entire FlixMobility team. We have
been following their success for a number of years, and greatly admire what
they have been able to achieve over this time. TCV’s strategy is to back
companies led by visionary founders and offering superb value propositions to
its customers and partners – we believe FlixMobility does exactly that.”
Doran and
Stefan Dziarski, partner at Permira, will join FlixMobility’s board of directors.