French startup Blablacar, which hooks up travelers who want to share a car for long-distance trips, says it has raised $200 million in investment as it seeks to ramp up global expansion.
Co-founder Nicolas Brusson tweeted the announcement Thursday, noting that it's already active in 19 countries. The company is now reportedly worth more than $1 billion, drawing concerns about a bubble-like frenzy in the tech world.
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Paris-based Blablacar is present in major European markets as well as Russia, India and Mexico. It's focusing next on Brazil, other Latin American countries and Asia, CEO Frederic Mazzella was quoted in French business daily Les Echos as saying.
While car services such as Uber have clashed with French authorities, Blablacar has met less resistance. Its drivers don't make profits on the rides.