Kinnevik AB (publ) ("Kinnevik") today announced that it has invested SEK 443m in GoEuro, the leading booking platform for transport across Europe. The investment was made in partnership with Temasek, the Singapore based investment company.
GoEuro is a travel platform that allows customers to find and book trains, buses and flights across Europe. Partnering with over 800 European transport operators, GoEuro is revolutionising the travel planning experience, providing customers with more choice, transparent pricing and easier booking. Today, GoEuro sells tickets directly for more than 80% of its transport providers, offering ground and air travel options in 36 countries across Europe, with full product in 15. It has more than 27 million users every month, with three quarters of users on mobile.
Georgi Ganev, CEO of Kinnevik commented:
"We are excited to lead this funding round in GoEuro, together with Temasek. GoEuro has made the travel comparison and booking experience seamless for millions of travellers, and it resonates perfectly with Kinnevik's investment strategy of providing more and better choice to the consumer. I look forward to supporting Naren and his team as they continue to grow the business."
Naren Shaam, Founder and CEO of GoEuro, said:
"The investment by these outstanding firms is a testament to our team's hard work to build the leading booking platform for transport in Europe and a recognition of the tremendous growth opportunities we see ahead. Having Kinnevik, Temasek and Hillhouse as investors complements our vision for driving growth across our business, as we help people around the world book their travel more easily and quickly. "
For further information, visit www.kinnevik.com (http://www.kinnevik.com/) or contact:
Torun Litzén, Director Investor Relations
Phone +46 (0)70 762 00 50
Email press@kinnevik.com (mailto:press@kinnevik.com)
Kinnevik is an industry focused investment company with an entrepreneurial spirit. Our purpose is to build digital businesses that provide more and better choice. We do this by working in partnership with talented founders and management teams to create, develop and invest in fast growing businesses in developed and emerging markets. We believe in delivering both shareholder and social value by building companies that contribute positively to society. Kinnevik was founded in 1936 by the Stenbeck, Klingspor and von Horn families. Kinnevik's shares are listed on Nasdaq Stockholm's list for large cap companies under the ticker codes KINV A and KINV B.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kinnevik via Globenewswire
