Europe’s rail sector is evolving through the modernisation of high-speed networks, sustainability initiatives, market liberalisation, and innovation. However, like any industry, it faces significant challenges, particularly in infrastructure funding. Many countries struggle to maintain and upgrade their infrastructure while managing capacity issues, as popular routes and urban areas experience congestion that requires significant investments in new lines and signalling systems.
Le Train, France’s first new high-speed rail entrant, aims to tackle these challenges head-on. Having already secured over €10 million in the last funding rounds from Crédit Mutuel Arkéa group and Crédit Agricole, the company is now in final negotiations with investors to raise over €400 million by the end of Q1. This funding will finance the project and its fleet of 10 high-speed trains — a significant investment that signals growing confidence in private rail operators’ ability to meet unmet demand and drive innovation.
Tech Funding News spoke to Catherine Pihan-Le Bars, Le Train’s Deputy CEO (formerly in top management at CHU de Toulouse, one of France’s largest hospitals), about the rail industry’s development, its key challenges and how their startup is disrupting it. Here’s what she shared.
Le Train: disrupting the French rail market
Founded in 2020 in Bordeaux by Alain Getraud, Le Train aims to transform the French rail market with new high-speed services that address current shortcomings, enhance customer experience, and promote sustainable transportation. The company seeks to be a first mover and capture a significant share of France’s growing high-speed rail market. Recent regulatory changes have opened the sector to increased competition, challenging SNCF’s long-standing dominance.
In an exclusive interview with TFN, Pihan-Le Bars recounted Le Train’s origins: “The company was launched in 2020 by Alain Getraud, our current CEO. He approached me because of my experience in challenging roles, particularly in healthcare. We saw an opportunity to launch new high-speed rail services in France, where the existing network was under-occupied despite high demand.”
Le Train focuses on solving major industry bottlenecks through sustainable and innovative high-speed rail options that can effectively compete with other transport modes. According to Pihan-Le Bars, French rail services fall short of customer expectations, suffering from long travel times, poor connectivity, and limited last-minute availability. On some routes, driving remains faster than taking the train, making it challenging to convince travellers to switch to rail.
“Excellence is our priority, so we’ve brought in key talent like Olivier Dominguez, former CIO of Ouigo Spain, and Elise Renaud, who comes from Booking.com and Expedia. Our work goes beyond traditional booking platforms—we’re structuring the entire customer experience through our IT systems, commercial strategy, and pricing policy,” Pihan-Le Bars explained.
Le Train has pioneered an innovative financing approach, combining traditional bank funding, regional investors, and future customers. Despite industry challenges, their success in securing substantial upfront funding demonstrates the strength of their business model. Their novel approach includes involving future customers in financing and creating early loyalty and ownership.
So, how does Le Train stand out from the competition in the market?
Le Train differentiates itself from SNCF, Trenitalia France, and Eurostar through innovative design and energy efficiency. “Our trains are engineered for 20% greater energy efficiency than other high-speed trains. Their aluminium car bodies make them lighter and more efficient. These innovations come from Talgo, our Spanish manufacturer. Prioritising sustainability and minimal energy consumption sets us apart,” Pihan-Le Bars explained.
Beyond energy efficiency, Le Train is forging technology partnerships to reduce their environmental impact and enhance operations. Pihan-Le Bars noted: “While sustainability particularly appeals to Gen Z and Alpha generations, trip performance remains the key factor. If you must reach your destination at noon, and only the train can get you there, that’s what matters.”
Accessibility and passenger experience are additional differentiators. Le Train’s vehicles feature a single-level layout, making boarding and movement more manageable for families with luggage and strollers. Catherine added: “We’re introducing the first long-distance inter-regional lines in southern and western France, connecting to Bordeaux in under three hours—compared to today’s four-and-a-half hours with a Paris connection.”
Pihan-Le Bars highlighted their trains’ spacious luggage areas, addressing a common passenger concern. This focus on enhancing the overall experience, especially for families and luggage-carrying travellers, sets Le Train apart from typical high-speed services.
Additionally, Le Train will offer last-minute seat availability — addressing a significant gap in French rail services, which often book up early. This flexibility helps Le Train compete more effectively with car travel and other transport options.
Will market privatisation end in France?
The French rail industry is evolving through market liberalisation and private operators, promising improved service quality and competitive pricing. As sustainability initiatives drive electrification and alternative fuel adoption, new entrants like Le Train are pushing SNCF to enhance its services—a win for both consumers and the industry.
Interview by Akansha Dimri
