July 22, 2019
FlixMobility GmbH, the parent company of global mobility platforms FlixBus and FlixTrain, has announced the completion of its Series F funding round co-led by TCV and Permira, two of the largest growth equity firms backing private and public technology companies.
The equity raised will be used for global expansion as well as the launch of new FlixMobility products. FlixBus is targeting market leadership in the United States and will launch into new global markets in South America and Asia in 2020. For the FlixTrain brand, the investment will help expansions into new EU countries following the liberalization of the European rail market in 2020 in addition to growing the product within the German market where FlixTrain already operates multiple cross-country routes. Furthermore, the investment will be used to launch FlixCar, a ride sharing platform that will complement the existing FlixBus and FlixTrain networks.
Latham & Watkins represents Permira in the transaction with a team led by Frankfurt private equity partner Oliver Felsenstein, with Munich tax partner Stefan Süss, Frankfurt antitrust partner Max Hauser, and Frankfurt private equity associates Maximilian Platzer, John-Patrick Scherer, and Sönke Bock. Advice was also provided on technology matters by Frankfurt counsel Thies Deike; on environmental matters by Hamburg counsel Jörn Kassow; on data privacy matters by Frankfurt associate Wolf-Tassilo Böhm; on finance matters by Frankfurt associate Ralph Dräger and Hamburg associate Eun-Kyung Lee; and on employment law matters by Munich partner Anne Kleffmann and associate Kristina Steckermeier.