Ride sharing service BlaBlaCar has raised $200 million in Series D round of funding led by Insight Venture Partners and Lead Edge Capital, along with the participation of Vostok New Ventures.
Raised amount will be used to meet the demand of accelerated growth in established markets and to expand its service in new markets. BlaBlaCar has raised a total amount of $300 million till date including the recent round of investment. Currently, the company has plans of moving into markets of Brazil, Asia and additional markets in Latin America.
The company claims to have over 20 million members in 19 countries. It offers city to city ride sharing service. The users search for car owners in the same city, who are travelling to another city to book a seat in advance and share the cost with the co-travellers who sign up for the journey.
The company launched its service in India in January 2015. It had raised an amount of $100 million in July 2014. The service is available across three continents into seven new countries, including three emerging markets – Turkey, India and Mexico. In April 2015, it acquired its rivals German-based Carpooling.com and Hungary’s Autohop for an undisclosed amount. The acquisition helped BlaBlaCar to increase its userbase number in Germany and with Autohop it got entry into four new countries namely- Hungary, Romania, Serbia and Croatia.
BlaBlaCar was founded in 2006 by Frédéric Mazzella, Francis Nappez, and Nicolas Brusson. Currently, it operates in Benelux, Croatia, France, Germany, Hungary, India, Italy, Mexico, Poland, Portugal, Romania, Russia, Serbia, Spain, Turkey, Ukraine and the United Kingdom.