Rail, bus and air metasearch firm GoEuro secures $45 million investment

Rail, bus and air metasearch firm GoEuro secures $45 million investment

Metasearch engine GoEuro has secured a $45 million investment with a view to accelerating its growth in 2016.

The two-year-old firm, which describes itself as Europe’s largest platform for planning and booking rail, bus and air transportation, announced the closure of a Series B funding round led by Goldman Sachs and joint new investors this week.

The investors include technology investment firm Atomico – founded by Niklas Zennström, a co-founder of Skype – and Sebastian Siemiatkowski, co-founder and chief executive of payment services provider Klarna.

Naren Shaam, founder and chief executive of GoEuro, said: “This new investment is a huge endorsement to the progress we have made since our launch two and a half years ago.

“It will allow us to further accelerate our growth, and continue to build the most comprehensive platform for rail, bus and air travel in Europe – making tens of thousands of destinations easily accessible for travellers from all over the globe.”

Christopher Dawe, co-head of Goldman Sachs IP Private Investments, said: “GoEuro has made impressive progress in bringing the last untapped market within the travel industry into the 21st century.

“With over 50k train and coach stations across Europe, yet no online solution to search and book travel in a similar manner to what already exists within the airline industry, we see a tremendous opportunity to fill the void by building the leading multi-modal travel platform.”

Niklas Zennström, founder and chief executive of Atomico, added: “GoEuro is only two years old but we have been extremely impressed with their international approach to revolutionizing European travel.

“The international team at GoEuro are all amongst the best in the industry, with ex-employees of global technology brands joining the ranks in recent years and we look forward to working with Naren and his team to help scale GoEuro further.”

GoEuro now operates in 11 countries across Europe with more than 40 railway companies, more than 300 bus operators and all airlines.

The company will focus on investment in new partner integrations, product development and customer acquisition within Europe and globally.

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