After Reaching Profitability, Carpooling Platform BlaBlaCar Accelerates with $108 Million Debt Financing
BlaBlaCar, a pioneering name in the French startup scene, has transitioned from its humble beginnings as an online hitchhiking community to a unicorn-status company. Now, having attained profitability, the company is making strategic financial moves to bolster its growth trajectory.
In a recent development, BlaBlaCar has secured a €100 million ($108M) revolving credit facility, providing a significant financial boost for its future endeavors. This move marks a strategic shift towards utilizing debt as a flexible and non-dilutive tool for expansion and acquisitions, as explained by co-founder and CEO Nicolas Brusson.
BlaBlaCar has strategically aligned itself with major banks in France, the U.K., and the U.S., enhancing its financial capabilities to navigate evolving market dynamics.
Profits Amidst Industry Challenges
Notably, BlaBlaCar has been profitable for the past 24 months, a milestone that sets it apart in an era marked by financial uncertainties for many startups. Co-founder Nicolas Brusson emphasizes the company’s sustainable profitability, debunking misleading metrics like EBITDA to underline its genuine financial success.
