GoEuro Raises $27 Million In Funding For Regional Expansion
Berlin-based GoEuro is a travel platform, like what we wrote about previously, that allows people to search for, compare and book plane, train, bus, rail and car hire options for travelling across Europe.
GoEuro was conceived after a European trip where the founder found it difficult to book travel over multiple websites, trains and buses, which is even more complex for group travel. Founded in 2013 by Harvard University graduate Narem Shaam, the objective was to be able to search trains, buses, flights and automobiles in one search. The startup launched in the May of 2013 after announcing $4 million in seed funding from Hasso Plattner Ventures and Batter Ventures. By Summer 2013, a Beta version went live in Germany; by January of 2014, they had expanded to the UK and Spain.
And this early October, GoEuro has just closed a $27 million Series a funding round led by New Enterprise Associates, seven months after topping up its seed funding with another multimillion-dollar cash injection. The new funding will be specifically targeted at market expansion and ramping up the company’s rate of growth.
These multi-modal transportation search sites are geared to save travellers time and money by enabling them to find all their options on one site instead of having to search through numerous ones for comprehensive options.
Currently, the company operates in Germany, the UK, Spain, Italy, Belgium, the Netherlands and Luxembourg. Naren Shaam said, “This is a very significant backing of the progress we have made since we launched just over a year ago. Bringing a major US firm into GoEuro doesn’t just add capital, it significantly increases our ability to hire top talent due to the high-profile nature opportunity for the entire multi-mode travel industry worldwide.”
By delivering a beautifully simple solution to a highly complex technology problem, GoEuro is rapidly gaining traction in a market that is ripe for transformation. Share your comments with us.