General Atlantic recently announced that it will continue its partnership with FlixBus, joined now by technology investment company Silver Lake.
Working under the leadership of Jörn Nikolay, Managing Director and Head of Germany at General Atlantic, the firm has committed an undisclosed amount of capital to allow FlixBus to continue its growth.
Nikolay led General Atlantic’s 2014 initial investment in FlixBus and was promoted to managing director in 2015.
“Jörn has significantly expanded our presence in Germany, and we are proud to promote him to Managing Director in recognition of his contributions to the firm,” said William E. Ford, CEO of General Atlantic. “We look forward to deepening our partnerships with innovative entrepreneurs and high-growth companies in the region.”
Founded in 2013, FlixBus has provided convenient, affordable, and safe intercity bus travel for more than 60 million passengers. The company works with hundreds of independent bus partners to offer a network in Germany, France, Italy, Austria, and the Netherlands, as well as cross-border services to many other countries. FlixBus users can use the company’s environmentally friendly, long-distance buses to make connections to 1,000 destinations in 20 countries across Europe.
FlixBus is unique in that it offers an e-commerce and technology platform that enables the company to work with its independent bus partners, who operate the network. FlixBus offers paperless travel, booking, and delay management through a mobile app and network. It also offers dynamic pricing similar to airlines.
“FlixBus has seen success by leveraging its technology and quality innovations to deliver best-in-class service to over 60 million passengers and its bus partners,” said Nikolay. “Having supported the founders on FlixBus’ growth path over the last years, we are excited to continue our partnership in this next chapter, now joined by our new partner Silver Lake.”
“FlixBus is using technology and data analytics in innovative ways to provide consumers with a quality intercity transport service, working very effectively with a large group of independent bus partners to provide the service. There’s a tremendous opportunity to continue to develop the offering and expand in new countries, and we look forward to supporting the company’s technology innovation and growth,” said Simon Patterson, Managing Director at Silver Lake.
Silver Lake is a technology investment firm with over $24 billion in combined assets under management and committed capital. Its team of approximately 100 investment professionals based around the world has invested in an array of companies including AliBaba, GoDaddy, Vantage Data Centers, and more.
General Atlantic is a leading global growth equity firm providing capital and strategic support for growth companies. Beyond its 2014 investment in FlixBus and other technology companies in its portfolio, its worldwide team of professionals has guided investments in Snapchat, Seismic, Vox Media, AirBNB, and others.
Update, November 2017: FlixBus recently announced plans to start serving cities in the United States.
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