Tier Mobility raises $200 million
TIER Mobility, the European micromobility startup backed by AXA, has closed a $200 million Series D round led by SoftBank Vision Fund 2 and Mubadala Capital. Additional investors include RTP Global, Novator, White Star Capital, Northzone, Mountain Partners, M&G Investments, and Speedinvest. This round gives TIER a $2 billion valuation.
Founded in 2018, the Berlin-based startup offers e-scooters, e-bikes and e-mopeds across 150 cities in 16 countries. TIER has partnerships with several insurance companies including AXA, Zego, and HUK-Coburg.
“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.” – Amer Alaily, director at Mubadala Capital – Ventures, Europe.
“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.” – Niranjan Sirdeshpande, director, M&G’s Catalyst investment team.
“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.” – Alex Gayer, CFO at 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.” – Lawrence Leuschner, CEO and co-founder of TIER Mobility.