Ridesharing startup BlaBlaCar secures $200 million funding

Ridesharing startup BlaBlaCar secures $200 million funding

Long-distance ridesharing community BlaBlaCar has secured $200 million in a fresh round of funding.

The backing is claimed to make the company one of Europe’s most well-funded start-ups, with more than $300 million in funding to date.

BlaBlaCar has expanded across three continents into seven new countries, including three emerging markets – Turkey, India and Mexico – since raising $100 million in July last year.

Already well-established in Europe, it consolidated the market with acquisitions in Germany, Mexico and Eastern Europe, including the April takeover of carpooling.com, then the world’s second-largest ridesharing service.

The latest funding will go towards meeting the demand of accelerated growth in established markets and expansion into new markets such as Asia, Brazil and other countries in Latin America.

The service connects people looking to travel long distances with drivers already going the same way, so both can save money by sharing the cost of their journey. It has more than 20 million members in 19 countries.

Frédéric Mazzella, founder and chief executive, said: “It has been exhilarating to see our vision resonate with so many people globally, as BlaBlaCar’s community has rapidly scaled and flourished in every new market.

“We’ve built a unique activity based on the values of true sharing, and this funding will help unleash even more of its potential over the coming years.”

Nicolas Brusson, chief operating officer, added: “We have built a highly efficient new way to travel, spread over three continents and already used by over 10 million people every quarter.

“With this additional investment, we’ll be able to accelerate our growth in new and established markets, continuing to build the largest people-powered transport community in the world. This financing is a significant step closer to transforming mobility on a global scale.”

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