Berlin-based platform GoEuro raised $27 million in Series A funding led by New Enterprise Associates (NEA). Existing investors increased their funding to support GoEuro’s growth. The investment will be used to expand the business to further European countries.
Similar to services such as Kayak, waymate or fromAtoB, the website offers to compare the fastest or cheapest way to get from one place to another by train, plane and bus. As of right now, GoEuro covers Germany, England, Spain, Italy, Belgium, the Netherlands and Luxemburg.
In January 2014, GoEuro claims it connects 20,510 railway stations, 10,011 bus stations and 207 airports. Amongst other platforms that operate in traveling, GoEuro found its market by concentrating on busses and trains within Europe. It also has a large number of partners. Through contracts with them, GoEuro gets a percentage of every ticket purchased through the website – a typical affiliate deal.
Besides New Enterprise Associates (NEA), the three existing investors Battery Ventures, Hasso Plattner Ventures and Lakestar have increased their funding in the company.
“left”]“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,” said Forest Baskett, General Partner at NEA.
The company’s aim is to cover all of Europe so France, the Nordics and Eastern Europe are definitely on the list.
GoEuro was started by Naren Shaam, Harvard graduate from India. When traveling through Europe, he found it extremely complicated to figure out where to book his transportation. After founding the company in 2011, he moved from New York to Berlin in 2012. Today, the team counts 60 people from 23 nations.