The funding helps the company achieve a valuation of $3B. Here are the top-line bullets you need to know.
FlixMobility, a mobility company, has raised $650M in a Series G. The round drew participation from Canyon Partners, General Atlantic, BlackRock, and Permira among others.
HOW’S THE COMPANY PERFORMING?
- Germany-based FlixMobility is a mobility company that provides alternatives to private transportation across various locations of Europe. The company operates both road and rail transportation services through its subsidiaries FlixBus and FlixTrain that are managed in collaboration with bus partners and private train companies.
- FlixMobility currently operates in more than 2,500 destinations across 36 countries.
WHY DOES THE MARKET MATTER?
- The global online bus ticketing market is projected to grow at a CAGR of 13.16% and reach a value of $1.134T by 2023, according to Kenneth Research.
- The advancement of technology has seen a shift from physical booking to online booking of tickets. Many travel agents have opted for digital platforms to enhance operations and expand growth.
- Online travel booking has also increased owing to several mobile applications and social media platforms that have attracted users. The trend is expected to grow in the coming years with the growing affinity for social media and online platforms.