TIER raises $ 200 million in Series D funding

  • Round table participants include existing investors SoftBank Vision Fund 2, Mubadala Capital, RTP Global, Novator, White Star Capital, Northzone and Speedinvest as well as new partners like M&G Investments and Mountain Partners

Dubai, United Arab Emirates – TIER, the European leader in micro-mobility, which entered the United Arab Emirates market in 2020 after being selected as a leading service provider by the Roads & Transport Authority (RTA ), has just announced the first closing of its series of $ 200 million D roundtable, consolidating its position as the best-funded micro-mobility company in Europe. As part of a larger capital and debt raise, this round of financing is led by previous investors SoftBank Vision Fund 2, Mubadala Capital and adds new partners like M&G Investments, a green impact fund, and Mountain Partners. , a diversified global investment holding company. The funding provides TIER with additional resources to fulfill its mission to change mobility for good by providing the safest, fairest and most sustainable mobility solution on the market.

Since its launch in 2018, TIER has established itself as the European market leader thanks to unparalleled capital efficiency and operational excellence. To date, the German company has deployed 135,000 electric scooters, e-bikes and electric mopeds in 150 cities in 16 countries. TIER plans to use the funds for strategic acquisitions and investments, while expanding its international coverage in strategic growth markets. TIER will also invest in expanding its multimodal fleet across Europe and the Middle East and will continue to deploy its innovative TIER Energy Network, a network of battery charging stations hosted by local businesses.

Amer Alaily, Director, Mubadala Capital – Ventures, Europe: “Lawrence, Matthias and Alex’s passion for change is felt throughout the organization, from TIER’s hub in Dubai to their headquarters in Berlin. They quickly established themselves not only as a leader in the European micro-mobility space, but also as a leader whose commitment to sustainable development sets them apart from their competitors. We are proud to have been a part of their journey and look forward to remaining a partner with Lawrence and his team for years to come.

Niranjan Sirdeshpande, Director of the Catalyst Investment Team at M&G: “TIER has experienced strong growth over the past three years, expanding its range of multimodal products, establishing important industry partnerships and winning very competitive tenders. taken. We are excited and deeply encouraged by the exceptional leadership in environmental, social and governance (ESG) performance, helping TIER to strengthen its position as number one in micro-mobility in Europe and accelerate its success in this competitive sector. . “

Alex Gayer, CFO of TIER Mobility: “The confidence and conviction of our new and existing investors will help us accelerate our growth plans and consolidate TIER’s position as market leader in Europe. and continue our strategic investments. “

Lawrence Leuschner, CEO and Co-Founder of TIER Mobility: “The funding provides TIER with additional resources to fulfill our mission to change mobility for good. Clocking more than 80 million trips, replacing more than 13 million car trips, in such a short time, shows that cities around the world are looking for ways to make their transport networks safer and move towards a zero future. emission.

The funding follows a memorable year for TIER. The company recently entered its 16th country and also significantly expanded its presence in Europe and the Middle East with new cities such as Manama (Bahrain), Doha (Qatar) and London, after winning the tender to manage the capital’s first electric scooter program. . With the launch of e-bikes in several European countries, TIER is expanding its growing range of multimodal options, making it the first European micro-mobility provider to offer users three different types of vehicles in one application.

With a valuation of $ 2 billion, TIER has raised a total of $ 660 million in equity and debt financing to date.

-Ends-

About TIER Mobility

TIER Mobility is the leading European provider of shared micro-mobility, with a mission to change mobility for good. By providing people with a range of shared light electric vehicles, from electric scooters to electric bikes and electric mopeds, powered by a proprietary energy grid, TIER is helping cities reduce their dependence on cars. Founded in 2018 by Lawrence Leuschner, Matthias Laug and Julian Blessin, TIER is headquartered in Berlin and currently operates in more than 150 cities in 16 countries in Europe and the Middle East. With a focus on providing the safest, fairest and most sustainable mobility solution, TIER has been climate neutral since 2020.

TIER investors include SoftBank Vision Fund 2, Mubadala Capital, Northzone, Goodwater Capital and White Star Capital. For more information, visit www.tier.app.

Press contact
Zoe Serras
Empyre Communications
+971502590318
[email protected]

© Press release 2021


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