Tier Mobility

History

2021: Raising $200 million

In mid-November 2021, Berlin-based Tier Mobility, an e-scooter rental company, announced the raising of $200 million as part of the Series D financing round. Among the investors is Leonid Boguslav's RTP Global fund.

The investment round was led by SoftBank Vision Fund 2 together with Mubadala Capital from the UAE. Other participants included Novator, White Star Capital, Northzone and Speedinvest. New investors also joined the financing, including the environmental impact fund M&G Investments and Mountain Partners.

Leonid Boguslavsky Foundation invested in the German rental service for electric scooters Tier Mobility

The Berlin startup plans to use the new financing for acquisitions and strategic investments, as well as for further international expansion. The company says it will seek to cover strategic growing markets in Europe and the Middle East. The company noted that part of the investment will be aimed at continuing the deployment of a network of charging stations located at local enterprises, known as Tier Energy Network.

This funding provides further strength to expand our presence in the multimodal market worldwide, as well as to make strategic investments and acquisitions. Our capital investment needs in vehicles will be covered by unlocked debt potential. Our goal is to turn Tier into a European micromobility center, building on our current number one player position in the public electric scooter market - Tier Mobility Chief Financial Officer Alex Gayer.

The increase in support for Tier Mobility from Mubadala followed the company's entry into the UAE market in 2020, after it was chosen by the local authority of the Roads and Transport Administration after lengthy testing and testing of scooter rental. Tier Mobility said its micromobile business as of November 2021 is estimated at $2 billion, noting that the company raised a total of $660 million in equity and debt financing.

In a press release, Tier Mobility in November 2021 boasts of its recent victory in a tender for the rental of electric scooters as part of a trial project in London. Other new cities she talks about are in the Middle East: Manama and Doha. The company also operates in Paris, where city authorities are actively trying to transfer urban transport from cars to alternative modes of transport, such as bicycles and public transport.

As of November 15, 2021, Tier Mobility claims that it has deployed 135 thousand e-scooters, e-bikes and electronic mopeds in 150 cities in 16 countries, and the company has also become the leader in the European market thanks to unmatched capital efficiency and operational excellence.^[1]

Notes