Flix

A global tech leader in sustainable and affordable long-distance ground transportation. Flix has revolutionized the market for intercity bus travel through pioneering an asset-light business model and acting as a technology partner for bus operators.

About Flix

Founded in 2013, Flix established market-leading positions in long-distance bus services in Europe as well as North America and is rapidly expanding in Central and South America and India. Headquartered in Munich, Germany, the company employs over 5,500 people and operates a network of >5,600 destinations in over 40 countries. In 2023, Flix served 81 million customers with over 1,000 bus partners, generating over EUR 2 billion in revenue.

Market trends and drivers

Flix operates in an attractive market that is sizable and grows at high single-digit growth rates, driven by thematic tailwinds including a globally growing middle-class living in urban environments that increasingly demands sustainable, serviced ground mobility options. Flix’s two-sided network approach to long-distance bus transportation creates strong barriers to entry, on the back of which the company holds leading market positions in most of its core geographies. Key pillars of the network Flix has created are hard to replicate brand recognition, a proprietary tech and data stack, “ownership” of the customer journey and the largest global destination network in long-distance bus transportation.

Investment potential

EQT, in partnership with its co-investors, the founders and other existing shareholders, will focus on supporting the company in its continuous growth strategy, which includes further strengthening the Company’s presence in Europe and North America, expanding its global footprint in some of the world’s largest bus markets and expanding new offerings like train. Furthermore, EQT will help to further drive a very strong Climate & Nature impact case based on increasing usage of buses for long-haul travel.