TIER raises $200mln Series D funding round

This round of funding is part of a broader equity and debt raise

  
  • Participants in the funding round include existing investors SoftBank Vision Fund 2, Mubadala Capital, RTP Global, Novator, White Star Capital, Northzone, and Speedinvest alongside new partners like M&G Investments and Mountain Partners

Dubai, United Arab Emirates - TIER, Europe’s micro-mobility leader, which entered the UAE market in 2020 after being selected as a leading service provider by the Roads & Transport Authority (RTA), has just announced the first close of its $200 million Series D funding round, consolidating its position as the best funded micro-mobility company in Europe. As part of a broader equity and debt raise, this round of funding 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. The funding provides TIER with additional resources to fulfil its mission to Change Mobility For Good by providing the safest, most equitable and sustainable mobility solution in the market.

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

Amer Alaily, Director at Mubadala Capital – Ventures, Europe: “Lawrence, Matthias and Alex's passion for change can be felt across the organisation - from TIER's hub in Dubai to their HQ in Berlin. They have quickly emerged as not only a leader in the European micro-mobility space, but one whose commitment to sustainability sets them apart from their competitors. We are proud to have been part of their journey and look forward to remaining a partner to Lawrence and his team for years to come.”

Niranjan Sirdeshpande, Director, M&G’s Catalyst Investment Team: "TIER has shown strong growth over the past three years, expanding its multi-modal product offering, building important industry partnerships, and winning highly-prized tenders. We are excited and deeply encouraged by TIER's outstanding leadership in environmental, social and governance (ESG) performance, helping TIER build on their position as the number one micro-mobility company in Europe and accelerate their success in this competitive industry."

Alex Gayer, Chief Financial Officer at TIER Mobility: "The trust and conviction of our new and existing investors will help us accelerate our growth plans and cement TIER’s market leadership in Europe. This equity funding provides further firepower to scale our multimodal market presence globally, and pursue strategic investments & acquisitions. Our vehicle capex needs will be serviced with the debt capacity unlocked. Our goal is to build TIER into the European micro-mobility powerhouse, building on our current position as the number one player in the shared electric scooters market.”

Lawrence Leuschner, CEO and Co-Founder of TIER Mobility: “The funding provides TIER with additional resources to fulfil our mission to Change Mobility For Good. Clocking more than 80 million trips, replacing over 13 million car rides, in such a short amount of time exemplifies that cities around the world look for ways to make their transport networks safer and move towards a zero-emission future.”

The funding comes on the back of a momentous year for TIER. The company recently entered its 16th country and also significantly expanded its presence across Europe and the Middle East with new cities such as Manama (Bahrain), Doha (Qatar), and London, after winning the tender to run the capital’s first e-scooter scheme. 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 app.

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

-Ends-

About TIER Mobility

TIER Mobility is Europe's leading shared micro-mobility provider, with a mission to Change Mobility for Good. By providing people with a range of shared, light electric vehicles, from e-scooters to e-bikes and e-mopeds, powered by a proprietary Energy Network, TIER helps 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 150+ cities across 16 countries in Europe and the Middle East. With a focus on providing the safest, most equitable and most sustainable mobility solution, TIER has been climate neutral since 2020.

TIER’s 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
zoe.s@empyrecommunications.com 

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases