FlixMobility, a Germany-based travel services provider backed by automotive manufacturer Daimler, yesterday scored a series F round sized, according to Reuters, at €500m ($561m).
Growth equity firms TCV and Permira co-led the round, which also featured firm HV Holtzbrinck Ventures and European Investment Bank.
Founded in 2013, FlixMobility operates inexpensive long-distance travel services – a coach service called FlixBus and a railway offering called FlixTrain. The company will use the cash to launch additional services, including ridesharing platform FlixCar.
FlixMobility also hopes to strengthen its market position in the US, enter South American and Asian markets next year and expand FlixTrain into additional EU member states in 2020.
John Doran, general partner at TCV, and Stefan Dziarski, partner at Permira, will join FlixMobility’s board of directors.
FlixMobility previously raised an undisclosed sum from Daimler, Silver Lake, General Atlantic and HV Holtzbrinck Ventures in 2016.
Details about the company’s historical funding are sparse, though it acquired its peer MeinFernbus in 2015. General Atlantic supplied an undisclosed amount at the same time, together with existing backers Holtzbrinck and Unternehmertum Venture Capital Partners, the venture capital firm affiliated with Technical University of Munich.
