This deal is the latest large round into the travel space in Europe. It reflects the opportunity to build significant travel companies in Europe. GoEuro is tackling a tough part of the market - multi-modal travel. If it can crack this problem, it has the chance to take on market leaders, Expedia and Priceline.
European travel planner platform GoEuro has today announced a $45 million Series B round, led by Goldman Sachs. Other new investors in this round include Atomico, Yuri Milner and Tom Stafford, Sebastian Siemiatkowski (Klarna) and Ilkka Paananen (Supercell). Goldman Sachs is a prior investor in Uber — in fact the same group at the investment banking firm led the investment in Uber and GoEuro, according to the latter’s co-founder, Naren Shaam — so the firm is evidently viewing the two transportation businesses as non-competitive. Which, at least at present, they are. Uber is generally focused on shorter, single leg trips in urban locations, while GoEuro aims to simplify longer distance trips which might span multiple countries.