FlixMobility - the parent company of FlixBus and FlixTrain - has completed a financing round G, raising over USD 650mn from US investor Canyon Partners, the company has said. The investment received will allow for further network expansion - including in Poland - and expansion into new markets.
“We are moving from defense to offense and our main goal will be to become a leader in all markets where we are present. We want to make green mobility accessible to as many people as possible, so we plan to continue to invest in markets with huge potential, such as the United States and the United Kingdom, but also to strengthen our position in key European markets,” said founder and CEO André Schwämmlein, quoted in the release.
FlixMobility, currently present in 36 markets worldwide, promises to clearly accelerate the implementation of its strategy with a strong financial backing.
“With the financing, we have received, we are well prepared for the upcoming international growth and expansion plans of the main pillars of our business, namely FlixTrain and FlixBus,” added founder and CEO Jochen Engert.
The new financing will help FlixBus build the largest bus network in the United States, the United Kingdom, and Portugal, strengthen its leading position in Turkey, France, and Eastern Europe, including Poland, and expand FlixTrain’s rail operations in Germany, Sweden, and other countries, the material listed.
In addition, the company is already planning to enter new markets after a forced suspension related to the pandemic.
FlixMobility emphasizes that it successfully survived and resumed operations after the pandemic thanks to smart network management and significant investments in technology and automation. Last summer, the company launched its first bus services to the Baltics and began building a national network in the UK and Portugal.
Today, the company is focused on further growth through expansion into new and existing markets. In addition to the global FlixBus network in 36 countries, FlixMobility has also been developing the FlixTrain long-distance train network since 2018. The company currently operates FlixTrain services throughout Germany, with the first green trains launching in Sweden in early May 2021. The company sees the future of collective travel in a combination of trains and intercity buses, and the realization of this idea can be seen in the next steps of its strategic development, it reminded.
FlixMobility is a connectivity operator, offering travel via FlixBus buses, FlixTrain trains, and the FlixCharter service.