Trainline has competitive strengths and structural tailwinds that position the business for significant long-term growth.

Please click the following icon to download an introductory investor presentation on Trainline and its investment case:

Intro to Trainline

Competitive strengths

We enable millions of travellers to seamlessly search, book and manage their journeys through our highly rated Trainline website, mobile app and B2B partner channels.

  • 4.9/5 star rated app
  • c.128 million platform visits each month
  • Most downloaded rail app in Europe

Our innovation focuses on creating a simple, consistent, friction-free experience for booking and managing travel. We bring together all carriers into one app while providing smart, real-time travel information and self-serve capabilities like journey changes and refunds. 

  • Simple, intuitive user interface with all carriers, fares and railcards in one place
  • Seamless, friction-free booking experience
  • Digital tickets and railcards, smart personalisation, real time travel info 
  • Money-saving features: SplitSave, Price Prediction, Ticket Alerts, Best Fare Finder, Railcard Finder 
  • Self-service change of journey, automated refund capability

We have developed a highly scalable, marketing playbook in the UK, which we are deploying across our core markets in Europe. This helps drive customer acquisition at scale while maintaining a low cost per new customer acquired (“CPA”)

  • >80% new customer acquisition through free channels in the UK (e.g. SEO)
  • Sophisticated CRM strategies to drive engagement and frequency
  • 91% app share of UK Consumer transactions through the app
  • 62% app share of International Consumer transactions through the app

As a platform business, we offer our innovative retailing experience directly to customers through our Trainline-branded businesses, while also giving carrier partners and other travel businesses access to our retail solutions to offer to their customers. 

  • 270+ rail and coach companies with deep integrations across 40 countries
  • c500 engineers, data and tech specialists 
  • End-to-end digital retailing and ticketing solutions for rail carriers at a lower cost to serve 
  • Provides travel sellers access to our rail content through one connection - our global API

At Trainline, we recognise the importance of building and sustaining a strong, experienced management team. Click on the link below for more information about our management team.

Meet the team

Tailwinds for growth

Rail market shifting to online and mobile ticketing

  • Customers are increasingly booking tickets online, now 55% of all ticket sales in UK
  • This has largely been driven by an increasing use of barcode read digital tickets (or etickets), doubling in last two years to >47% of ticket sales
  • Trainline has championed etickets for several years as a core part of our mobile app proposition
  • >90% of all journeys eticket-enabled in the UK

European domestic rail markets liberalising at pace, creating need for an aggregator

  • The EU’s Fourth Railway Package (December 2020) opened domestic rail markets to competition
  • As a result, carrier competition is emerging across France, Spain, and Italy, with the major carriers there entering each other’s markets, e.g.
    • Spain
      • Renfe Avlo and Iryo are now running services on six key high-speed routes
      • Ouigo have launched on three routes and are set to enter more during 2024
    • Italy
      • New entrant carrier Longitude is set to arrive in Italy in 2025
      • Ouigo is set to enter the Italian market in 2026
    • France
      • Renfe is now running cross-border services between Barcelona-Lyon and Madrid-Barcelona-Marseille
      • Renfe are due to launch a service between Paris-Lyon in 2024, meaning there will be four carrier brands on that route
      • Carrier competition could be arriving on London-Paris, potentially as early as 2025
      • Le Train is planning to launch services in the West of France in 2026 and Kevin Speed is planning services between Paris and three major French cities in 2028
  • Trainline positioning itself as the rail retailer in these core European markets, aggregating all the carriers, fares, and journey options in one place
  • This helps customers navigate the increased complexity to find the right ticket, while bringing incremental customer demand to new entrant carriers

Governments investing to shift people on to trains as a greener mode of transport

  • Trainline’s purpose is to empower greener travel choices, encouraging people to switch to rail from car and air travel 
  • Rail generates 87% less CO2 emissions than air travel and 67% less CO2 emissions compared with car travel, per passenger
  • UK and European governments continue to encourage a modal shift to rail, and increasing their investment to meet net-zero emissions goals:
    • The EU is targeting a 55% reduction target for CO2 emissions by 2030, and the UK has a reduction target of at least 78% by 2035 and a legally binding target to reach net zero by 2050

    • The EU Commission has highlighted rail as playing a key role in the EU becoming climate-neutral by 2050. It targets the doubling of high-speed rail traffic by 2030 and a tripling of high-speed rail by 2050.