Berlin-based micro-mobility firm TIER has raised $200 million in a Series D funding round. Already on a tear, the three-year-old company plans to use the funding to continue steamrolling across Europe and the Middle East, namely via M&A activities. Additionally, the dosh will be used to further expand TIER's fleet of e-scooters, e-bikes, and e-mopeds, and perhaps most interestingly, the company's network of battery charging stations as hosted by local businesses, the TIER Energy Network.
2021 has been a rather robust year for the company, having entered its 16th country, brought home $60 million from Goldman Sachs, and won one of the coveted spots in the London e-scooter trial programme. To date, TIER has raised $660 million in equity and debt funding.
“The funding provides TIER with additional resources to fulfil our mission to change mobility for good," comments CEO Lawrence Leuschner. "Clocking more than 80 million trips and replacing over 13 million car rides in such a short amount of time proves beyond doubt that cities around the world are desperate to make their transport networks safer and to move towards a zero-emission future.”
But there’s more to Tier's story than just a boatload of capital raised. As part of our Crossing Borders series, Tech.eu’s Jill Petzinger sat down for an in-depth conversation with TIER's vice president of expansion Philipp Haas to discuss the company's meteoric rise from zero to hero.