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Flixmobility collects 530 million euros

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The parent company of Flixbus and Flixtrain has now collected money again after 2019. The mixture of capital and loans from the Series Ground is intended to serve both to expand further and to operate more sustainably. For this, the founders Jochen Engert and Andre Schwammlein asked the existing investors to pay up again, writes the Handelsblatt. The only newcomer is Canyon Partners, the US financier who entered the market with outside capital. Others include Holtzbrink Ventures, General Atlantic, Permira, TCV, HV Capital, Blackrock, and Baillie Gifford.

A lot of money for high goals

Flixmobility is striving for nothing less than world market leadership. Since the company is already the market leader in the long-distance bus sector in Germany, other markets are in focus. It gained a foothold in Turkey early under the name of Kâmil Koç. “We will be the leading consolidation platform in Turkey,” announced Schwammlein. “Now is the time to go on the offensive again,” he is sure. He also brings takeovers into play in order to become the market leader in the USA, Great Britain, and Portugal. The US boss of the company is called Pierre Gourdain and he proclaims ambitious goals in the land of greyhound buses: by 2023 they want to offer the most extensive network there.

Trains to the IPO

Flixbus dominates the German long-distance bus market with a 95 percent market share. In order to grow further, the group started offering train lines in 2018. But in long-distance transport, Flixtrain is confronted with a powerful player: Deutsche Bahn. The federal government has just given massive support to the state-owned company because of failures in the wake of the pandemic. Flix, as Flixmobility has recently called itself, has switched on the EU because of the subsidy. At the same time, Flixtrain announced last month that it would connect 16 more cities to its own network. That almost doubles. In total, Flixtrain has connected 40 German cities and advertises with competitive prices from five euros. A few weeks ago, Sweden started putting green trains on the rails. 

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