Berlin-based travel booking platform GoEuro secures $150 million growth funding
GoEuro has raised $150 million in one of the largest-ever investment rounds in Germany, doubling the company’s total capital raised to date.
GoEuro, the leading booking platform for transport across Europe, has raised USD 150 million in one of the largest-ever investment rounds in Germany, doubling the company’s total capital raised to date. The travel startup plans to use the fresh capital to advance its vision of unifying transport globally by accelerating product innovation and expanding into new markets, facilitating more convenient travel booking across the world.
The investment values the company at between USD 900 million and USD 1 billion, according to a person familiar with the matter.
Kinnevik AB, a Swedish investment firm, and Temasek, a VC firm headquartered in Singapore, led the round, with participation from Hillhouse Capital. Cristina Stenbeck, main shareholder of Kinnevik and a member of the boards of Kinnevik and Spotify, will join GoEuro’s board of directors as part of the transaction.
Launched five years ago as a metasearch engine, GoEuro today operates the leading multi-modal transport booking platform in Europe, making direct sales on its platform for 80% of its transport providers. The travel startup is headquartered in Berlin with over 300 employees from more than 45 different countries.
Last year, the platform inked a distribution partnership with Qunar to capture the Chinese tourists wanting to take less traveled routes around Europe.
Since its last fundraise in October 2016, GoEuro has scaled substantially across many fronts. GoEuro now partners with over 800 European transport operators and offers ground and air travel options in 36 countries across Europe and full coverage in 15 of those markets, and more than 27 million people use GoEuro each month, three quarters of whom use mobile devices to access the platform. Additionally, GoEuro recently completed its first acquisition, of European transport aggregator BusRadar, based in Karlsruhe, Germany.
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