Flixmobility, best known in Europe for its indispensable bus service network, Flixbus made its debut in 2013 on the road intending to provide green and smart mobility for everyone to experience the world.
Founded by Jochen Engert, Daniel Krauss, and André Schwämmlein, FlixBus is a blend of tech-startup, e-commerce, and long-distance transportation. Today, over 100 million people have travelled across Europe with FlixBus, disrupting the conventional view of long-distance travel and supporting the shared mobility trend.
Germany’s biggest funding to date!
In a recent development, as first reported by Reuters, FlixBus has raised funding around €500 million in a Series F round, bringing valuation of more than $2 billion.
The latest funding round was led by private equity houses TCV and Permira along with existing investors, including Holtzbrinck Ventures and European Investment Bank. Notably, it is Germany’s biggest tech funding round to date.
Latin America and Asia on the list!
According to CEO and founder Jochen Engert, the company intends to use the funds to launch operations in Latin America and Asia, and to build a car-pooling service.
In Europe, FlixBus is the leading platform for long-distance bus services covering 29 countries. FlixBus stands for green and budget travel with high-quality standards.
It also offers free WiFi and onboard entertainment, power outlets at every seat and space for two pieces of luggage per person. Those who use FlixBus save 80% CO2 emissions compared to a trip by car.
Unique business model!
The company works on a unique business model, where FlixBus manages the technology, ticketing, customer service, network planning, marketing, and sales, while its local SME partners are responsible for the daily operation of buses.
More expansion on cards!
A few months back, the company expanded its market to New Orleans. It’s worth mentioning that, in the US, the FlixBus will compete against native biggies like Greyhound Lines and Megabus.
On the other hand, the company is also planning to expand Flixtrains once Europe liberalizes rail markets that are still dominated by state-owned operators.
FlixMobillity CEO and founder Jochen Engert in a statement said:
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
Furthermore, the Munich-based company has carpooling service launch on the cards as well, named as FlixCar. With this, the company will compete against the like of French BlaBla cars.
He also added,
We would see this more as an add-on product to our core. And it’s certainly very attractive from the customer acquisition side.
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