A mere eight months after its Series A, TIER Mobility has raised a $60 million Series B round to cement its lead as the fastest growing European provider of micro-mobility solutions. The round was led by Mubadala Capital and Goodwater Capital, brought on board AXA Germany and Evli Growth Partners as new investors, and included all existing investors, such as White Star Capital, Northzone, Speedinvest, Point Nine, Indico, Kibo Ventures, and Market One Capital.
Since that last funding round in February, TIER Mobility has expanded operations to over 40 cities in 12 countries, releasing four iterations of scooter hardware. Since its launch a year ago, the company has surpassed 10 million rides, which they claim makes them the fastest growing mobility company in history.
From the headquarters in Berlin, founders Lawrence Leuschner, Matthias Laug and Julian Blessin hope to “change mobility for good.” The fresh funding will help them continue to expand the company across Europe, as well as develop the TIER platform for citizens, city authorities, and public transportation partners.
Amer Alaily from Mubadala Capital said: “We firmly believe that micro-mobility as a form of transportation is here to stay, especially in Europe. We are confident that TIER Mobility is best positioned to become the leading player in Europe and Globally.
Chi-Hua Chien, co-founder & managing partner at Goodwater Capital went further into detail about the decision to invest: “TIER Mobility is not only the fastest growing mobility company in the world, but one of the fastest growing companies in consumer tech history. With phenomenal execution they have emerged as the leading micro-mobility provider in Europe with only a fraction of the invested capital of their competitors. This is a true testament to the uniquely capital efficient and profitable model the team chose to deploy from the outset. TIER’s unique approach to operations and partnerships yields superior unit economics and defensibility. We are thrilled to be part of their mission to Change Mobility for Good.”