Flixbus raises 650 million euros via loans and investors. (picture alliance / dpa)
German long-distance bus provider Flixbus has raised around 650 million euros in another round of financing. This involved both loans and capital from investors, the company's two founders André Schwämmlein and Jochen Engert said on Wednesday. Among other things, the company wants to use the money to drive its global expansion into new and existing markets, they said. For example, Flixbus wants to become the market leader in the US, Great Britain, and Portugal in the coming years.
Flixbus brokers long-distance bus trips between travelers and bus companies. Since market liberalization in 2013, the company has dominated the long-distance bus market in Germany and now also offers bus trips in the US and numerous EU countries. In early May, the company also began to operate in Sweden.
The Munich-based company is also active in the German long-distance rail market under the Flixtrain brand. Here, however, its market share is still small compared with Deutsche Bahn. During the coronavirus crisis, Flixbus had suspended its services twice for several months. The buses have, however, been back on the road since the end of March.
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