Flixbus Is Said to Plan Fundraise at Over 1 Billion Euros

Flixbus is planning a fresh round of fundraising for acquisitions after the private equity-backed German bus service decided against pursuing an initial public offering, according to Bloomberg, citing people familiar with the matter.

The funding round is expected to raise about 300 to 400 million euros and value the firm at more than 1 billion euros, the people said, asking not to be identified. The company, officially called FlixMobility, may be seeking a valuation of as high as 1.5 billion euros to 2 billion euros, two of the people said. No final decisions have been made and the funding plans aren’t yet formalized, they said.

The company could use the new funds to grow in the U.S. and may eventually consider a New York or European listing, one of the people said. Flixbus has been expanding, adding to its West Coast network with buses connecting the San Francisco Bay area to Los Angeles last year and acquiring French long-distance bus operator Eurolines.