TIER, the European leader in micro-mobility, today announced the first close of its $ 200 million (nearly £ 145 million) funding round to consolidate its position as the best-funded micro-mobility company in Europe.
As part of the broader rise in equity and debt, this round of funding was led by existing investors SoftBank Vision Fund 2, Mubadala Capital and added new partners like M&G Investments, a green impact fund. . With a valuation of $ 2 billion, TIER has raised a total of $ 660 million in equity and debt financing to date.
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.
Amer Alaily, Director at 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, Catalyst Investment Team, M&G: “TIER has experienced strong growth over the past three years, expanding its range of multimodal products, establishing important industry partnerships and winning highly prized tenders. We are delighted and deeply encouraged by TIER’s 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 sector. competitive.
Alex Gayer, CFO of TIER: “The confidence and conviction of our new and existing investors will help us accelerate our growth plans and consolidate TIER’s leadership position in the European market. This equity financing provides additional firepower to expand our presence in the multimodal market globally and pursue strategic investments and acquisitions. Our vehicle investment needs will be met with the debt capacity released. Our goal is to make TIER the European locomotive in micro-mobility, building on our current position as the number one player in the shared electric scooter market.
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. Logging over 80 million trips and replacing over 13 million car trips in such a short time is no doubt that cities around the world are desperate to make their transport networks safer and move towards a zero future. emission.
Leading micro-mobility service
Founded in 2018 by Lawrence Leuschner, Matthias Laug and Julian Blessin, TIER offers people a range of shared light electric vehicles, from electric scooters to electric bicycles and electric mopeds, powered by a proprietary energy grid. It helps cities reduce their dependence on cars. Headquartered in Berlin, the company operates in more than 150 cities in 16 countries in Europe and the Middle East. It focuses on providing the safest, fairest and most sustainable mobility solution and has been climate neutral since 2020.
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.