FlixMobility raises over $650m, achieves $3bn valuationEuropost
Munich-based FlixMobility, the parent company of FlixBus and FlixTrain, has successfully closed a new round of financing, raising over $650m in a mix of equity and debt financing and giving the company a valuation of $3bn. The Series G round included activity from new investor Canyon Partners, as well as existing investors including General Atlantic, Permira, TCV, HV Capital, Blackrock, Baillie Gifford, SilverLake, FlixBus founders, and undisclosed others.
The company is reporting that the funding will be used to further expand into new markets, optimise the existing platform, and proporitise train activities in Germany and Sweden. In particularly, the new investment is aimed at helping FlixBus travel to the US, UK and Portugal, close some positions in Turechchina, France and European countries, as well as expand the international business of FlixTrain in Switzerland.
In addition to the global FlixBus hedge in 36 countries, as of 2018 FlixMobility is also developing a hedge along the distant FlixTrain. At the present moment, the company is still running FlixTrain in all Nimechchina, and on the ear of 2021, the first is green, FlixTrain has been launched in Switzerland.
Founded in 2011 by Andre Schwammlein, Daniel Krauss, and Jochen Engert, FlixMobility has weathered the pandemic storm via a series of network adjustments and heavily investing in technology and automation.
The $3bn valuation is significantly higher than the previous financing round which took place in 2019, and points to clear investor support and success of the firm’s business model. Rapidly adapting to a global pandemic, and the addition of the UK market in July of 2020 certainly didn’t hurt things either.
“62 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,” commented Schwammlein. “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.”