It’s been a helluva few weeks in funding news for Berlin, Germany-based travel startups as GoEuro has picked up $45 million in a Series B funding round on the heels of GetYourGuide attracting $50 million last month.
While GetYourGuide is an online platform for tours and activities, GoEuro searches and books “multi-modal” travel — 40 railway operators, 300 bus companies and the usual global cast of airlines — primarily in 11 European countries.
Goldman Sachs led the funding for the two-and-a-half year-old GoEuro and jumping in were new investors Atomico, Yuri Milner, Tom Stafford, Sebastian Siemiatkowski (Klarna) and Ilkka Paananen (Supercell).
Naren Shaam, founder and CEO of GoEuro characterizes the funding infusion as “a big round and a huge endorsement” to create the “largest normalized distribution platform” for these fragmented transportation modes and vendors.
Expedia’s recent decision to partner with SilverRail Technologies to expand its rail bookings, particularly in Europe and Asia, is also a boost to transportation beyond flights.
Shaam says GoEuro will use the funding to expand its presence in Europe beyond its current 11 European countries, to improve product and grow its staffing ranks. With the $45 million Series B, GoEuro has attracted a total of $76 million in funding to date.
Meanwhile, Rod Cuthbert, CEO of GoEuro rival Rome2Rio, sees the funding news as helping the multi-modal sector.
“Great news for the multi-modal sector and probably a little overdue,” Cuthbert says. “This will help the major players wake up to the fact that more people take the train or bus to their destination in Europe than fly, and these people are still booking hotels, activities and so forth. As a form of customer acquisition, multi-modal makes so much more sense than air-only search, and only a few companies have relevant technology in this area. GoEuro’s funding is good news for Rome2rio, Loco2 and Captain Train.”