FlixMobility, a Munich, Germany-based provider of a transportation app, raised $650m in Series G equity and debt financing.
The round, which valued the company at $3 billion, was led by Canyon Partners with participation from existing investors General Atlantic, Permira, TCV, HV Capital, Blackrock and Baillie Gifford.
The company intends to use the funds to expand its network in the US, the UK and Portugal its position in Turkey, France and Eastern Europe, and grow into new markets.
Founded in 2013, FlixMobility offers travel via the FlixBus and FlixTrain brands establishing Europe’s largest long-distance bus network. The company launched green long-distance trains in 2018 as well as a pilot project for all-electric buses in Germany and France. In 2018, FlixMobility launched FlixBus USA. The company handles technology development, network planning, operations control, marketing & sales, quality management and continuous product expansion. The daily scheduled service and green FlixBus fleet is managed by bus partners from regional SMEs, while FlixTrain operates in cooperation with private train companies.