The French start-up thus enters the very closed club of start-ups valued at more than one billion dollars.
Blablacar would have entered the very select“billion dollar start-up club” of unicorns valued at more than one billion dollars. The French car-sharing start-up has raised $160 million (about €143 million) from Insight Venture Partners for a valuation of $1.2 billion, according to Techcrunch. Historical investors including Index Ventures, Accel Partners, ISAI and Lead Edge Capital reportedly did not participate in this Series D round.
In July 2014, Blablacar had already completed a $100 million round led by Index Ventures. At the time, the start-up claimed to have 8 million members in 12 European countries. Today, Blablacar has 20 million members in 19 countries: France, Spain, the UK, Italy, Poland, Germany, Portugal, Benelux, Russia, Ukraine, Turkey, India, Mexico, Serbia, Romania, Croatia and Hungary. In addition to Eastern Europe, the start-up is also starting to tackle large emerging countries in Asia and Latin America.
In April, Blablacar bought its main European competitor, German Carpooling. This acquisition gives the French company a virtual monopoly in France, Germany and Spain. The young start-up has also swallowed the Hungarian Autohop, which is present in Romania, Serbia and Croatia in particular. With the 160 million dollars it has just raised, Blablacar could intensify its buyout strategy to continue to grow internationally.
Blablacar was founded in 2006 by CEO Frederic Mazzella, CTO Francis Nappez and COO Nicolas Brusson. The start-up has since raised $270 million, or nearly 242 million euros. A record for the French ecosystem.
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