Permira, TCV lead series-F for FlixMobility

Permira has drawn equity from its Growth Opportunities Fund, which held its first close on €1.3bn in 2018. It makes minority investments in high-growth technology companies. TCV is currently investing from its TCV X fund, which closed on $2.5bn in January 2019.

Holtzbrinck Ventures and European Investment Bank also participated in the round through a joint co-investment. General Atlantic and Silver Lake Partners continue to be shareholders in the company.

The fresh capital will be used to launch a car-pooling service by 2020, expand the company's reach in the US, and launch in Asia and South America. Representatives from both Permira and TCV will join the board of directors.

Morgan Stanley advised on the process, according to reports.

Previous funding
Unternehmertum Venture Capital Partners (UVC), LMU Entrepreneurship Center, HV Holtzbrinck Ventures and Cherry Ventures invested in the company's series-A in 2013. UVC made another investment in 2014, according to reports.

Holtzbrinck, UVC and General Atlantic invested in FlixMobility in 2014. The trio invested again in 2015, with General Atlantic taking a majority stake. That year, FlixBus merged with MeinFernbus.

Silver Lake Partners led a funding round in 2016 with participation from Holtzbrinck, H14, General Atlantic and automotive manufacturer Daimler.

Company
Headquartered in Munich, FlixBus was founded in 2013 after the privatisation of the German intercity bus network. Its parent company, FlixMobility, holds both FlixBus and FlixTrain. It employs 1,300 people in 19 offices in 17 countries and operates in 29 countries.

People
Permira – Stefan Dziarski (partner).
TCV – John Doran (general partner).
FlixMobility – Jochen Engert (CEO).

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• Topics
• Expansion
• DACH
• Consumer
• Germany
• General Atlantic
• Silver Lake - London
• Permira
• Morgan Stanley