FlixMobility raises over $650M in funding for growth

[wlm_nonmember]
News stories are free to read. Click here for full access to all the features, articles and archive from only £8.99.
[/wlm_nonmember]

As FlixBus parent company raises new funding, its UK Managing Director underlines that it will offer the second biggest network across the country during 2021

FlixBus parent company FlixMobility has announced more than $650M in new funding, based on a mix of equity and debt, valuing the business at $3bn, and including new investor Canyon Partners and participation from existing investors and FlixBus founders.
The company said that this signals a clear acceleration of its mission to provide ‘affordable and sustainable’ transport solutions through its global, intermodal offer of bus and rail. The funding will be used to fuel its network expansion strategy in new and existing locations as well as bolstering investments in technology.

André Schwämmlein, Founder and co-CEO, said: “62 million passengers travelled 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. We want to make green, affordable mobility accessible to as many people as possible.
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.”

Andreas Schorling, Managing Director FlixBus UK, added: “We believe it will be a great year for domestic travel. In 2021, FlixBus will be offering the second biggest network across the country and is on a clear path to become the largest UK player by 2025. The restart of our operation has been very successful, and we expect millions of travellers already this year.”

“The recent financing is a strong sign for the future and for our vision to provide sustainable mobility with FlixBus and FlixTrain to people all over the world,” continued Jochen Engert, founder and co-CEO of FlixMobility. “With the closed financing, we are well positioned for future international growth and expansion plans with FlixTrain and FlixBus.”

FlixMobility says its goal is to become a market leader in the UK, the US and Portugal, and to further expand its leading position in Turkey, France and Eastern Europe. The company said it is also planning to expand into new markets.