GoEuro, the platform for the planning and booking of travel by train, bus and plane based in Berlin, has achieved 150 million dollars in one of the largest financing rounds in Germany, doubling the total capital of the company collected until the date. The company plans to use the funds to advance product innovation and expansion to new markets, making it easier to book travel.
Kinnevik AB, a Swedish investment firm, and Temasek, an investment company based in Singapore, led the round, with the participation of Hillhouse Capital, a leading investment firm focused on long-term growth through innovation.
Cristina Stenbeck, Kinnevik's main shareholder and board member of Kinnevik and Spotify, and formerly Zalando, will join GoEuro's board of directors as part of the transaction.
Launched five years ago as a metasearch engine, GoEuro has become a multimodal transport reservation platform in Europe, making direct sales to 80% of its transport providers with more than 800 European transport operators
Since its last round of financing in October 2016, the company has increased the average of its monthly user base by 170%. GoEuro now offers land and air travel options in 36 countries in Europe, fully covers 15 of those markets, and more than 27 million people use GoEuro every month, three-quarters of which access from mobile devices. In addition, GoEuro recently completed its first acquisition of the European transport aggregator BusRadar, based in Karlsruhe, Germany, according to the company.