GoEuro allows its users plan and compare travel routes between European cities by bus, train, or aircraft
Narendra Modi (Photo: DC archives)
Hyderabad: An NRI-promoted Berlin-based online travel start-up firm GoEuro Corp. on Wednesday said that it has closed a $27 million investment deal from a US-based venture fund New Enterprise Associates (NEA).
GoEuro allows its users plan and compare travel routes between European cities by bus, train, or aircraft. GoEuro currently operates in seven European countries, Germany, United Kingdom (UK), Spain, Italy, Belgium, Netherlands and Luxem-bourg.
With the new funding, the company expects to increase its rate of growth further and achieve its goal of being the largest multi-mode travel platform across Europe.
According to Indian-born Naren Shaam, founder and chief executive officer (CEO) of GoEuro, “This is a very significant backing of the progress that we have made since we launched just over a year ago. We continue to see rapid increase in all our key metrics in the business and this funding will enable us to execute our growth strategy over the next few years.”
Mr Shaam founded GoEuro in 2012 after working in the United States automobile and finance sectors. He claims that his company hopes to fill what he says is a lack of a centralised point of reference for inter-city travel information, especially across Europe’s many borders. The company’s business model is based on revenue share with the transportation companies for each ticket bought using the GoEuro platform.
( Source : dc correspondent )
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