To say that Berlin-based TIER has been on a tear as of late might be putting it mildly. Following a $200 million Series D round no less than a month ago, the micro-mobility firm has purchased 100% of publicly traded bicycle sharing company nextbike. With the purchase, TIER now counts more than 250,000 vehicles in over 400 cities and by the numbers, takes the top spot when it comes to two-wheel micro-mobility providers.
Founded in 2004, nextbike has operations in 200 cities, including Berlin, Warsaw, Glasgow, Cologne, Budapest and Riga, for a total of 60 projects across 17 countries. The company's business model revolves around cooperation and contracts awarded by with cities, transport companies, universities, and private companies.
Already a prime player in the e-scooter and e-moped markets, in recent months, TIER has shown the bicycle sector some love, launching e-bikes in London and Stockholm. Today, by snapping up nextbike, TIER shifts that commitment into high gear, and takes the initiative global.
"The acquisition of nextbike - with its unrivaled experience and relationships across hundreds of cities - is a unique opportunity to take bike share to the next level, getting more people out of cars and offering the most sustainable mobility solution,” commented TIER co-founder and CEO Lawrence Leuschner. “I have always held a deep belief in the transformative power of bikes in cities - and it is great to see the bike market is growing rapidly. Our shared values of sustainability and respect for cities across two strong leadership teams, underpinned by TIER's financial backing and capital efficiency, present an unstoppable, joint mission to change mobility for good."
For more on TIER's meteoric rise and expansion, be sure to check out Tech.eu's interview with the TIER's vice president of expansion Philipp Haas.
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