Now Flixbus wants to become a leader in the United States

Now Flixbus wants to become a leader in the United States

Flixmobility, the group behind the long-distance coach operator, raises € 650 million in investments to expand to road and rail

Flixbus (Photo by Thomas Trutschel / Photothek via Getty Images) Over 650 million of euros to leave again, by bus and train: this is the new round of financing raised by FlixMobility, whose valuation rises to 3 billion dollars. With the new round, the German company based in Munich will accelerate expansion projects in parallel with the resumption of travel, with the aim of "becoming a market leader in all the countries where we are present", 36 throughout the world. On a practical level, this will first of all mean extending a more widespread network of FlixBus connections in the United States, Portugal and the United Kingdom, first of all, and consolidating the position in France, Turkey and Eastern Europe.

The new G Series round is structured on a mix of equity and debt and was provided by the founders and existing investors (General Atlantic, Permira, Tcv, Hv Capital, Blackrock, Baillie Gifford and SilverLake) . As a new investor is added Canyon Partners, a strategic partner for FlixMobility's expansion objectives, which include the US market as "immense potential". "We have reason to think that the United States will represent our main market in the future", explains founder and CEO André Schwämmlein who, looking at the European market, reminds countries and the Union to "encourage a climate of healthy competition, ensuring equal conditions of access to European markets ".

Last summer FlixMobility initiated the first international connections with the Baltic countries, and started mapping home networks in the UK and Portugal. Another goal, however, is also the expansion of rail activities. In fact, the company has been active since 2018 with a long-distance train service FlixTrain, with connections throughout Germany and Sweden since last May, on the occasion of the European Year of Railways 2021. According to the company, the future of collective mobility is based on an intermodal synergy between long-distance trains and buses, destined to play a primary role in all its current and future strategic decisions.

"With this loan we are ready for a new international expansion of FlixTrain and FlixBus, is a strong signal for the future and will support our vision and goal of bringing our sustainable mobility offer all over the world ”, concludes Jochen Engert, founder of FlixMobility.

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