Financial Times: Berlin travel start-up raises $150m

GoEuro, the German online travel-booking company, has raised $150m in a new funding round led by Kinnevik of Sweden and Singapore’s Temasek.

The Berlin-based start-up described the investment as “one of the largest-ever investment rounds in Germany, doubling the company’s total capital raised to date”. Hillhouse Capital also participated in the investment.

GoEuro said it would use the funding to expand into new markets.

Launched five years ago, GoEuro is a “multi-modal transport booking platform,” which allows users to buy plane, bus and rail tickets on one site.

Naren Shaam, chief executive and founder, said in a statement: “The investment by these outstanding firms is a testament to our team’s hard work to build the leading booking platform for transport in Europe and a recognition of the tremendous growth opportunities we see ahead.

“Over the past five years, we’ve brought most European transportation on to our platform, creating a simple, consistent and familiar experience for our customers. We see extraordinary potential to transform travel booking by expanding our platform to the fragmented, mostly offline systems for managing transport globally.”

Source: Financial Times