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After reaching profitability, carpooling platform BlaBlaCar secures $108 million debt line
BlaBlaCar just secured a €100 million revolving credit facility and announced that it has been profitable for the past two years.
The company hasn’t started monetizing its users in India, Brazil, Mexico or Turkey yet — it doesn’t take any cut on carpooling transactions. As there are already many BlaBlaCar users who are driving in that direction, the company will ping those drivers to see if they can pick up a group of people at the train station and drop them off at their destination. He pointed out people spend billions of dollars on bus tickets in India and Brazil — suggesting that, once again, there’s room for BlaBlaCar to grow.
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