Business

Ride-sharing startup BlaBlaCar raises $ 115 million round to grow outside Europe

The amount will be used to implement a competitive growth strategy in view of the expected recovery in the travel sector in the coming months

BlaBlaCar
Photo: BlaBlaCar/Courtesy
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  • BlaBlaCar operates in 22 markets and has more than 90 million registered users worldwide;
  • BlaBlaCar’s growth in regions outside Europe was greater than the growth achieved before the crisis caused by the pandemic.

French online marketplace for carpooling BlaBlaCar announced on Thursday a $ 115 million round led by VNV Global and following by Otiva J/F AB and FMZ Ventures.

The amount will be used to implement a competitive growth strategy in view of the expected recovery in the travel sector in the coming months, especially outside Europe.

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As reported by the company, BlaBlaCar‘s growth in regions outside Europe was greater than the growth achieved before the crisis caused by the pandemic. Today, half of the startup‘s operation takes place in these regions.

“The round will enable the platform to grow in these markets, in addition to mergers and acquisitions with the aim of leading the shift from offline to online in land transport,” says the statement.

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BlaBlaCar, which presents itself as the world leader in shared rides and trips by car or bus, operates in 22 markets and has more than 90 million registered users worldwide.

According to a note released by the company, the COVID-19 pandemic strongly impacted the travel and transportation sector in general, but BlaBlaCar’s business model proved resilient thanks to a travel solution adapted to restrictions, with faster routes and focusing on who really needed to travel.

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