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German mobility company FlixBus closes $560 million for global expansion

ImpactAlpha, July 24 – FlixBus launched in 2013 after the deregulation of Germany’s bus market with the goal of improving sustainable transit and connectivity between smaller cities and towns, where residents otherwise depend on cars. It has secured nearly €500 million ($561 million), led by growth-stage private equity firms TCV and Permira.

Flix’s initial offering was a tech platform that connected regional small and mid-size operators into Flix’s network of inter-city bus routes. Its service now covers 2,000 routes in 29 countries and includes pilots with all-electric long-haul lines in France and Germany.

The new funding will support expanded bus services in the U.S., Latin America and Asia; to lay groundwork for a train network in Europe; and to launch a ride-sharing service. The deal values Flix at about €2 billion, Reuters reports. 

HV Holtzbrinck Ventures, the European Investment Bank, General Atlantic and Silver Lake also backed the round.

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