Flix has previously abandoned attempts to grow FlixTrain outside of Germany due to high costs. Credit: Markus Mainka/Shutterstock.com

EQT Future and Kühne Holding will acquire 35% of travel company Flix after investing in the company to support its long-term growth. 

The investment companies will acquire their shares from existing shareholders for an undisclosed amount in a deal that will likely boost Flix’s German open-access rail subsidiary FlixTrain. 

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Andreas Aschenbrenner, deputy head of the EQT Future advisory team, said: “We aim to ensure Flix’s low carbon solution to long-distance travel reaches even more people across the world and believe that Flix is on a path to being the category defining player in mass ground transportation.” 

While Flix’s operations largely centre on its coach and bus services in Europe, India, and the Americas, FlixTrain was launched in 2018 to capitalise on the growth of rail in the European Union. 

The company’s rail operations are currently limited to Germany, but it has previously operated rail services in Sweden and had expressed an interest in entering the French market but indefinitely postponed its attempts due to the high start-up costs in the country. 

However, renewed funding from a third party may reinvigorate its efforts to expand its rail operations, with Flix highlighting the “further scaling” of FlixTrain as one of its strategic targets to continue the 30% revenue growth it saw in 2023. 

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André Schwämmlein, CEO and co-founder of Flix, said: “We are delighted to welcome EQT Future and Kühne Holding as strong and purpose-driven investors with proven track records of building upon sustainable long-term investment strategies. 

“Their capital and know-how will be a strong asset to our company’s overall strategic vision.”