IFC to Invest in BlaBlaCar to Boost Long-Distance Shared Mobility in Brazil
Summary
Paris, France, June 16, 2022 IFC has signed an agreement to invest in BlaBlaCar to support the shared-travel platforms growth in Brazil and boost access to affordable, convenient, and environmentally-friendly travel. Founded in 2006 and established in Brazil in 2015, BlaBlaCar leverages technology to fill empty seats on the road, matching passengers looking to travel with a carpool driver or bus operator. "We look forward to leveraging IFCs deep experience in developing countries to further grow our convenient, secure, and low-cost offering for long-haul travel in Brazil and other emerging markets where we operate," said Nicolas Brusson, CEO and Co-Founder of BlaBlaCar. "The digitization of transport is creating new opportunities for emerging economies to overcome a lack of adequate physical infrastructure," said Makhtar Diop, IFCs Managing Director. As the companys only investor exclusively focused on emerging markets, IFC aims to help BlaBlaCar expand in Brazil, India, Mexico, Turkey, and post-war Ukraine.