FlixBus, one of Europe’s leading innovators in the travel space, has secured a strategic investment by the US-based VC Silver Lake. The investment amount remains undisclosed. Existing investors General Atlantic, a leading global growth investor, Holtzbrinck Ventures and Daimler also participated in the investment round.
Disrupting European long-distance travel since 2013, FlixBus is a provider of convenient, affordable, and safe intercity bus travel to more than 60 million passengers since inception, through 100,000 daily connections to 1,000 destinations in 20 countries across Europe. The Munich-based company works with more than 250 independent bus partners to offer a comprehensive network in Germany, France, Italy, Austria, and the Netherlands, as well as cross-border services to countries including Scandinavia, Spain, and the UK.
The FlixBus e-commerce and technology platform provides a high-quality customer experience, and enables the company to work effectively with its independent bus partners who operate the network while FlixBus focuses on network and capacity planning, quality management, and sales and marketing. FlixBus offers paperless travel, booking and delay management on its mobile app, data driven network development, and dynamic pricing similar to airlines.
Jochen Engert, a co-founder of FlixBus stated: “We look forward to working in partnership with Silver Lake, a leading investor that brings technology industry expertise and value creation capabilities. This strategic alliance, along with our continued partnership with General Atlantic, is an acceleration point for both our company and our customers as we expand the business into new markets and strengthen our technology platform.”
Simon Patterson, Managing Director at Silver Lake said: “FlixBus is using technology and data analytics in innovative ways to provide consumers with a quality intercity transport service, working very effectively with a large group of independent bus partners to provide the service. There’s a tremendous opportunity to continue to develop the offering and expand in new countries, and we look forward to supporting the company’s technology innovation and growth. The company has already completed a number of acquisitions and Silver Lake is well positioned to support the company with further capital for M&A.”