GoEuro doubles its funding with new round of $150M

Berlin-based GoEuro has raised $150 million to grow its multimodal travel booking platform, which currently works with more than 800 providers across Europe.

Kinnevik AB, a Swedish investment firm, and Temasek, an investment company headquartered in Singapore, led the round, with participation from Hillhouse Capital.

Cristina Stenbeck, main shareholder of Kinnevik and a member of the boards of Kinnevik and Spotify, will join GoEuro’s board of directors as part of the transaction.

“The investment by these outstanding firms is a testament to our team’s hard work to build the leading booking platform for transport in Europe and a recognition of the tremendous growth opportunities we see ahead,” says Naren Shaam, CEO and founder of GoEuro.

“Over the past five years, we’ve brought most European transportation onto our platform, creating a simple, consistent and familiar experience for our customers. We see extraordinary potential to transform travel booking by expanding our platform to the fragmented, mostly offline systems for managing transport globally. Through this investment, we will enhance our customers’ experience by adding new geographies and modes of transport, and more people to our fantastic team to join us on this exciting journey.”

GoEuro launched as a metasearch engine but since then has shifted to offer booking along with price comparison. Today tickets for 80% of its transport providers can be booked on GoEuro.

Its last funding round was in October 2016 for $70 million. Since then, the platform has grown from 10 to 27 million monthly users and now offers ground and air travel options in 36 countries across Europe and full coverage in 15 of those markets.

GoEuro recently completed its first acquisition - of European transport aggregator BusRadar.

“Kinnevik’s management and board share my excitement about the large addressable market that GoEuro has pursued since its inception, and the considerable runway for growth ahead,” says Cristina Stenbeck, director of GoEuro.

“GoEuro has been a pioneering force in addressing, disrupting and improving end-to-end travel. We look forward to helping Naren and his team continue to build a world-class business.”