FlixMobility GmbH, the parent company of FlixBus and FlixTrain, completed its Series F funding round co-led by TCV and Permira, two of the largest growth equity firms backing private and public technology companies.
The equity raised will be used for global expansion as well as the launch of new FlixMobility products.
For the FlixTrain brand, the investment will help expansions into new EU countries following the liberalisation of the European rail market in 2020 in addition to growing the product within the German market where FlixTrain already operates multiple cross-country routes. Furthermore, the investment will be used to launch FlixCar, a ride sharing platform that will complement the existing FlixBus and FlixTrain networks.
FlixBus is targeting market leadership in the United States and will launch into new global markets in South America and Asia in 2020.
“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,” said Jochen Engert, CEO and founder of FlixMobility.
In 2018, 45 million passengers used FlixBus and FlixTrain through 350,000 daily connections to over 2,000 destinations. The company works with more than 300 independent bus and train partners and has created over 10,000 jobs in the industry.
Also in 2018, FlixTrain was launched, bringing the FlixBus model to the rail industry in Germany.
This year, the company also applied for rail tracks in Sweden and France in preparation of expanding FlixTrain with the upcoming liberalization of the European railway.