Organic growth, acquisitions, a new application and greater bus coverage in Eastern Europe … this is how the French startup BlaBlaCar AFP announced that it has carried out a new financing operation. The one who bought Ouibus from SNCF in 2018 has just raised 97 million euros.
The carpooling application has seen many growth phases in recent years and its activities have expanded to Mexico, Russia, Ukraine, India and Brazil. A bus reservation service made it possible for her to be attractive to investors. Since then, the health crisis has slowed the company down a lot, but the lack of fixed costs will allow it to get back in shape quickly.
On the way to a future IPO
For example, BlaBlaCar entrusted AFP and journalist Romain Dillet of Tech Crunch, admitting that the company had adequate liquidity prior to this new operation. “After this round of financing, we still have more than EUR 200 million in liquidity,” said Nicolas Brusson, co-founder and CEO. So why keep asking for money?
The company hasn’t made it clear, but it’s got off to a good start on its way to the stock market. The company is expected to be profitable again by the end of 2022. The most recent fundraising is a conversion agreement between him and the investors, the amount of which ultimately depends on a next operation (fundraising or IPO).
In the meantime, BlaBlaCar continues to work in its various markets and participates in Europe by offering bus tours. On this point, she said she had found an opportunity in certain European markets where the bus offer is very present but no digital services are available to buy tickets and prepare for trips.
In its plans, the startup also wants to thoroughly test its application in order to become a multimodal benchmark. Users can search for travel options from point A to point B and BlaBlacar will display the results of the trains, buses and carpooling available. As you have understood, the aim is to be able to integrate the SNCF offers into your application. For travelers, it is thus possible to shorten a train and car pool (or bus) trip with a single reservation and a transport ticket.