BlaBlaCar receives USD 200m investment led by Insight, Lead Edge and Vostok New Ventures
Vostok New Ventures Ltd. ("Vostok New Ventures" or the "Company") today announces its investment in BlaBlaCar, the world’s largest long-distance ridesharing community. Vostok New Ventures has agreed to invest a total of EUR 30m (USD 34m) in primary and secondary shares in the context of a larger USD 200m Series D investment round led by Insight Venture Partners and Lead Edge Capital.
BlaBlaCar connects people looking to travel long distances with drivers already going the same way, so both can save money by sharing the cost of their journey. This model has made BlaBlaCar a leader of the global sharing economy with over 20 million members in 19 countries, and is helping to make road travel more efficient and affordable.
BlaBlacar will use the new funding to support accelerated growth in Europe and a rapid take-off in emerging markets, where demand is being fuelled by gaps in public transport provision and the high cost of owning and running a car. The funding will also be used for future expansion where BlaBlaCar currently has its sights on Brazil, Asia and additional markets in Latin America.
Vostok New Ventures’ Managing Director Per Brilioth comments:
”We are excited to announce our new investment in BlaBlaCar. BlaBlaCar, with its strong network effects characteristics, will fit perfectly in our portfolio of high growth online marketplaces, and we look forward to support the company and its founders in the years to come.”
BlaBlaCar was founded in 2006 by Frédéric Mazzella, CEO, Francis Nappez, CTO, and Nicolas Brusson, COO and has now raised more than USD 300mln in funding to date. Currently, BlaBlaCar operates in Benelux, Croatia, France, Germany, Hungary, India, Italy, Mexico, Poland, Portugal, Romania, Russia, Serbia, Spain, Turkey, the Ukraine and the United Kingdom.