Micro-mobility company TIER raises $250 million series C

Berlin-based TIER Mobility , the European provider of micro-mobility solutions, has raised $250 million in Series C funding led by SoftBank Vision Fund 2. Existing investors including Mubadala Investment Company’s financial investment arm, Mubadala Capital, Northzone, Goodwater Capital, White Star Capital, Novator and RTP Global also participated in the round. To date, the company raised $381 million.

Founded in 2018, TIER has deployed 60,000 e-scooters across 80 cities in ten countries and is profitable. When it comes to insurance, TIER Mobility has an exclusive partnership with AXA in Germany to offer mandatory liability insurance for its scooter fleet.

“After achieving profitability with our e-scooters, we have in place the foundations to lead the way towards seamless and sustainable mobility. Our vision is a completely new way of how we will move in cities in the future: all electric, shared and affordable, and with different vehicles powered by one energy network. Together with, city and national government, we will build the best solutions to ensure safe, highly efficient, and sustainable movement from A to B.” – Lawrence Leuschner, CEO and co-founder of TIER.