FlixMobility, a mobility company who operate the FlixBus platform throughout Europe, ended a €500 million funding round just a month ago which was the biggest funding effort by a German-based tech company. However the company's CEO, Jochen Engert, recently announced that the funding effort was extended to allow for additional investors.
Engert stated that the company will be using these new funds to “move on from a business perspective” which would focus on growing and expanding the company. This would include expansion into new markets such as Asia and South America as well as pushing more into the United States. The company also wants to expand their effort in trains through FlixTrain, start up an expanded bus service with FlixBus Charter, and some time during next year launch a long distance ride-sharing platform called FlixCar. The company has also been working on a new pilot program called Flix2Fly to begin researching air mobility options.
The company's hopes is to create a wider “transportation marketplace for customers looking for affordable mobility.”
Engert wouldn't provide details about how large the funding round was, but he did state that the company was valued at the same amount as their previous funding round, around $2 billion. FlixMobility wouldn't reveal the final fund raising amount, but it's estimated that a few hundred million Euros were added to the original €500 million amount.
FlixMobility operates without owning their own fleet of vehicles and partners with consumers and other companies to bring them aboard the FlixMobilty platform. The company focuses on the logistics of mobility which helps creates more efficient routes of travel and help better find passengers who are in need of travel.
Engert comments that most companies don't rely entirely on Flix's platforms, but they will provide some of their fleets, which Flix then brands with their own colors and logo. Flix's goal is to create better between city travel and give fleet operators a consistent revenue stream through Flix. This ensures that fleet operators can make money on the longer routes that Flix uses ensuring a consistent return. Flix has also focused on purchasing similar businesses to their own to focus on growing their efforts.
Last year, around 45 million consumers used either FlixTrain or FlixBus which included around 350,000 connections per day to over 2,000 locations. Currently Flix's network currently operates in 29 countries with 300 partners for bus and train travel.
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