BlaBlaCar closes financing round with €100 million
Marc Nemitz
| 04.04.2024
With a record turnover of 253 million euros and 2 million tons of CO2 savings in 2023, BlaBlaCar announces a new phase of stable growth. BlaBlaCar secures 100 million euros in funding for further growth
Paris, April 2024 - BlaBlaCar secures a €100 million credit line to support its growth plans and consolidate its position as a leading shared travel marketplace. The company also announces that it has been profitable for the last 24 months. This marks a new phase of stable growth for BlaBlaCar as it continues to build out its multimodal strategy to reduce the carbon footprint of travel.
This funding will allow us to pursue an ambitious growth strategy, including possible mergers and acquisitions, where we are currently exploring various opportunities.
Nicolas Brusson, co-founder and CEO of BlaBlaCar
Strategy already successful in France
The main objective is to expand BlaBlaCar's multimodal strategy, which combines various forms of shared transportation with a comprehensive ride-sharing network, in the regions where the company operates. BlaBlaCar has already successfully implemented a similar strategy in France by acquiring Ouibus in 2019, which led to the creation of the BlaBlaCar bus network in Western Europe. In Eastern Europe and Brazil, the acquisition of Busfor and the development of its own bus marketplace has also driven BlaBlaCar's growth.
2023 with solid figures
The financing round follows a solid 2023 for the company. 80 million passengers used BlaBlaCar for bus or ride-sharing services, an increase of 23% compared to 2022. The company recorded triple-digit growth rates, particularly in emerging markets such as India and Brazil. The company generated revenue of 253 million euros in 2023, an increase of 29% compared to the previous year. It achieved profitability for the first time in 24 months and closed 2023 with positive EBITDA, marking the beginning of a new phase of stable growth.
The financial performance is the result of the gradual monetization of new ride-sharing markets and the restructuring of the bus business in Western Europe. In addition, BlaBlaCar is benefiting from current trends such as rising energy prices and a growing awareness of environmental issues, which is increasing travelers' interest in shared mobility.
With these measures, governments recognize that shared mobility is an effective solution to our current and future challenges.
Nicolas Brusson, co-founder and CEO of BlaBlaCar
BlaBlaCar's increasing activity also has a positive impact on mobility worldwide. In 2023 alone, the company contributed to reducing the carbon footprint of travel by 2 million tons. Public authorities are increasingly supporting shared mobility through various mechanisms such as special carpooling schemes and energy saving certificates.
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