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December 09, 2015

GoEuro secures $45 million in Series B financing led by Goldman Sachs Investment Partners


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December 9, 2015 – GoEuro, Europe’s largest platform for planning and booking all rail, bus and air transportation, has announced the closure of a Series B funding round totalling $45 million. The funding was led by Goldman Sachs and joined by new investors including Atomico, Yuri Milner and Tom Stafford, Sebastian Siemiatkowski (Klarna) and Ilkka Paananen (Supercell).

Naren Shaam, Founder and CEO 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.”

The company is addressing a market where over €150 billion is spent yearly on travel across Europe, utilizing proprietary technology to present all rail, bus, air transportation options, thereby creating a single, unified source of information for all consumer travel needs.

Christopher Dawe, Co-Head of Goldman Sachs Investment Partners Private Investments, commented, “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 CEO of Atomico added, "GoEuro is only two years old but we have been extremely impressed with their international approach to revolutionizing European travel. I am also delighted to see successful entrepreneurs like Ilkka and Sebastian re-investing in the tech community and strengthening Europe's tech ecosystem. 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 a contiguous area of 11 countries across Europe with a combined population of 400 million, offering its users the ability to search and book the fastest, cheapest, and most convenient journeys with over 40 railway companies, over 300 bus operators and all airlines, while helping operators reach new customers from all over the world.

The additional funding will enable the company to accelerate its growth through 2016 and beyond, with a focus on investment in new partner integrations, product development, continuing to attract the best talent to GoEuro, and customer acquisition both within Europe and globally.

Mr Shaam continued, “GoEuro today already reaches travellers from more than 120 countries, in 15 languages, and we’re making travelling in Europe easier than ever before – both inside countries and across borders. The support from Goldman Sachs and Atomico will enable us to focus even more on our vision of building the only tool you need to fully benefit from Europe’s excellent rail, bus and air travel infrastructure.”

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About GoEuro

GoEuro is a travel search platform that allows customers to search and book rail, bus and air transport across Europe. Partnering with over 340 European transport operators, GoEuro revolutionises the travel planning experience, providing customers with more choice, transparent pricing, travel times and easier booking. GoEuro lets travellers search to and from any location, including towns or villages, showing the best possible transport combinations based on price, total travel time and convenience, eliminating the need to visit multiple websites to plan an entire trip. With GoEuro, travel planning is simple, flexible and personal. The company is based in Berlin, with 150 employees from 32 countries.

About Atomico

Atomico is an international investment firm, focused on helping the world’s most disruptive technology companies scale and become global leaders. Founded in 2006 by Niklas Zennström, a co-founder of Skype, Atomico has made over 50 investments over four continents, including Skype, Supercell, Klarna, Truecaller, ZocDoc and The Climate Corporation, with an exclusive focus on the technology sector.

About Goldman Sachs Investment Partners

The Goldman Sachs Investment Partners (GSIP) Venture Capital & Growth Equity team has invested more than $6 billion in private opportunities globally since 2003. The team partners with entrepreneurs to build disruptive businesses and has invested in over 100 private transactions, including Uber, Facebook, Spotify, SMS Assist, Pinterest, thredUP, foodpanda, GoEuro, Cadre and Compass. The team is located in New York, Hong Kong, and Mumbai and is part of Goldman Sachs Asset Management.