Lineas Funding, Investors & Competitors

Lineas has raised $136M across 4 funding rounds, most recently a $71M undisclosed-stage round in September 2025.

Last Lineas funding round

$71M

Undisclosed stage · Sep 2025

Cumulative funding Lineas raised

$136M

across 4 funding rounds

Key investors in Lineas

  • SFPI-FPIM
  • Argos Wityu

Lineas Overview

About Lineas

Lineas is a Brussels-headquartered rail freight operator that delivers intermodal, conventional, and bulk transport services across Belgium, France, Germany, the Netherlands, Luxembourg, Italy, Spain, the United Kingdom, Poland, and Sweden. It manages over 6,000 kilometers of rail network access and combines rail with road trucking for end-to-end logistics between major ports like Antwerp, Zeebrugge, and Rotterdam. Lineas focuses on sustainable freight by shifting volume from road to rail, serving industries such as chemicals, automotive, and consumer goods. Established in 2017 through a management buyout from SNCF Logistics, the company operates daily shuttle services linking northern European ports to inland terminals.


Founded

2011

HQ

BelgiumBrussels

Website

lineas.net

Status

Privately held

Customer focus

B2B

Revenue model

Services, Subscription

Lineas Funding History

Lineas has raised a total of $136M across 4 funding rounds.

Lineas' first fundraising round was a $23M undisclosed-stage round in October 2015. The most recent completed round was a $71M undisclosed-stage round in September 2025.

Lineas funding rounds

Lineas funding rounds
DateStageInvestorsRaisedDeal Summary
Sep 2025Undisclosed stageSFPI-FPIM (lead)$71MLineas Group secured a EUR 61 million loan from SFPIM, acting for the Belgian State under a delegated mission set by Royal Decree of 18 August 2025. The facility carries subscription rights allowing the principal and accrued interest to be converted into equity, so the State can end up as a shareholder. SFPIM also holds a EUR 5 million guarantee for the rail freight operator's account. The European Commission approved the financing as a six-month rescue loan on 22 December 2025, with Belgium undertaking to file a restructuring plan if it is not repaid.
May 2023Undisclosed stageSFPI-FPIM (lead); Argos Wityu (lead)$22MLineas raised EUR 20 million in a capital increase subscribed by its two existing shareholders, SFPI-FPIM and Argos Wityu, as part of a broader recapitalisation of the rail freight operator worth around EUR 100 million. The injection lifted SFPI-FPIM's holding to 35.16 percent, carried at EUR 27.2 million at the end of 2023, from the 10 percent it had taken two years earlier.
Jan 2021Undisclosed stageSFPI-FPIM (lead); Argos Wityu (lead)$20MSFPI-FPIM invested about EUR 16.6 million in Lineas, taking over the 10 percent stake that the Belgian national railway SNCB was giving up and putting EUR 15 million into a convertible loan alongside EUR 1.6 million of equity. The money formed part of a wider EUR 60 million financing that the rail freight operator closed with its shareholders and banks at the start of 2021, supplemented by a sale and leaseback of locomotives. After the round Lineas was owned 90 percent by Argos Wityu and 10 percent by SFPI-FPIM.
Oct 2015Undisclosed stageArgos Wityu$23M-

Who has invested in Lineas?

2 investors have backed Lineas across its funding rounds, including SFPI-FPIM and Argos Wityu.

Lead investors include SFPI-FPIM and Argos Wityu.


Lineas Investors

Investors in Lineas by funding rounds participated
InvestorHQRoundsRoleFirst check

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Lineas Competitors

Lineas competitors include listed companies like Full Truck Alliance and WiseTech Global, and private ones like Uber Freight, Loggi, Sennder and CloudTrucks.

Public and private companies comparable to Lineas
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
Uber FreightUnited StatesSan Francisco, CAPrivate$211M-$3.3B15.6x
LoggiBrazilSão PauloPrivate--$1.8B-
SennderGermanyBerlinPrivate--$1B-
CloudTrucksUnited StatesSan Francisco, CAPrivate--$850M-
Full Truck AllianceChinaChinaPublicly listed$1.9B$676M$8.4B2.8x
WiseTech GlobalAustraliaAustraliaPublicly listed$779M$315M$7.6B6.8x

Lineas Public Comps

Lineas is still privately-owned, but its public comps include Canadian National Railway, Maersk, Roper Technologies, Old Dominion Freight Line, Dassault Systemes, XPO, Manhattan Associates, Getlink, U-Haul and Knight-Swift.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Canadian National Railway$12B$6.5B7.2x6.8x13.6x13.9x
Maersk$54B$10B1.1x1.0x5.9x5.4x
Roper Technologies$7.9B$3.2B6.1x5.7x15.2x14.6x
Old Dominion Freight Line$5.5B$1.7B6.6x6.2x20.9x18.9x
Dassault Systemes$7.2B$2.2B4.0x4.0x13.2x11.2x
XPO$8.2B$1.2B3.0x2.8x20.6x16.6x
Manhattan Associates$1.1B$288M11.2x10.6x42.2x29.7x
Getlink$1.8B$831M8.6x8.1x19.1x15.8x

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Common questions about Lineas

When was Lineas founded?Lineas was founded in 2011.
Where is Lineas headquartered?Lineas is headquartered in Brussels, Belgium.
Is Lineas publicly listed?No, Lineas is a private, VC-backed company.
How much funding has Lineas raised?Lineas has raised $136M across 4 funding rounds.
What was Lineas' last funding round?Lineas' last funding round was a $71M undisclosed-stage round in September 2025, led by SFPI-FPIM.
Who are Lineas' investors?Lineas' investors include SFPI-FPIM and Argos Wityu.
Which companies are comparable to Lineas?Companies comparable to Lineas include Uber Freight, Loggi, Sennder, CloudTrucks, Full Truck Alliance and WiseTech Global.

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