The car-sharing company BlaBlaCar has obtained a renewable credit line for an import of 100 million euros to boost its international expansion objectives. As reported today by the company, for the first time it has managed to achieve profitability for 24 months.
Its objective is to expand its multimodal strategy, which combines several modes of shared transport with broad coverage of its vehicle sharing or ‘carpooling’ network in the 21 countries in which it operates.
He explained that this new line of credit marks a new phase of profitable growth for BlaBlaCar, which continues to consolidate its multimodal strategy, reducing the carbon footprint of travel by two million tons of carbon dioxide in 2023.
“Ambitious growth strategy”
“This financing of 100 million euros will allow us to carry out an ambitious growth strategy, including mergers and acquisitions, where we are currently exploring several opportunities,” detailed the co-founder and CEO of BlaBlaCar, Nicolas Brusson.
“Combined with continuous innovation, mergers and acquisitions are a tool that will help us achieve market leadership more quickly,” added Brusson.
A model implemented in France.
This model has already been implemented in France through the acquisition of Ouibus in 2019, leading to the establishment of the BlaBlaCar Bus network throughout Western Europe. In parallel, in Eastern Europe and Brazil, the acquisition of Busfor and the development of its own bus market allowed BlaBlaCar to lead the ‘offline’ and ‘online’ transition of the sector.
The firm has also stressed that this round of financing is supported by a “solid 2023 for the company”, since “in the last year alone 80 million passengers booked a bus or car-sharing trip on BlaBlaCar.”
Record results in 2023
BlaBlaCar recorded revenues of 253 million euros in 2023, 29% more than the previous year and, for the first time, the company achieved profitability for 24 months, closing 2023 with a positive gross operating result (Ebitda), which has led to the start of a new phase of profitable growth.
“These solid financial results are the result of the progressive monetization of new car-sharing markets and the restructuring of the bus business in Western Europe,” the company said.
In addition, BlaBlaCar has explained that it is benefiting from the current context, as high energy prices, along with growing awareness of the climate crisis, have sparked growing interest among travelers in the firm’s shared mobility solutions. , “which demonstrates the countercyclical nature of its services.”
