Cities across the world are gearing up to make the switch from cars to more sustainable urban mobility solutions, a switch that is urgently needed to decarbonise towns and cities across the world. With a global problem to solve, European startups are now making a beeline to enter newer markets, especially the Americas.
The platform is on a mission to change mobility for good. Offering a range of shared, light electric vehicles, from e-scooters to e-bikes and e-mopeds, powered by a proprietary energy network, it helps cities reduce their dependence on cars. Founded in 2018 by Lawrence Leuschner, Matthias Laug and Julian Blessin, the company currently operates in over 410 cities with a fleet of 250,000 vehicles across 19 countries in Europe and the Middle East. With the purchase of Spin and its 50,000 vehicles, TIER will expand its global footprint to more than 520 cities and communities in 21 countries and its fleet to 300,000 vehicles.
The SoftBank-backed German startup had earlier acquired Italian market leader Wind Mobility and Europe’s largest bikeshare player nextbike in 2021. In October 2021, it raised a massive $200 million Series D funding round. It has raised a total of $660 million in equity and debt until now.
The new deal brings together two international players to become the most responsible and sustainable micromobility partner for cities in the world. Together, they will continue to pioneer the development of new standards and to build trust in e-scooters and e-bikes among communities and cities by enabling technology that creates a safer experience for riders, pedestrians and all other road users on both sides of the Atlantic.
Investing in and modernising the Spin fleet with 100% swappable batteries will be one of many upcoming projects to achieve environmental sustainability and efficiency in the North American micromobility industry.
Lawrence Leuschner, co-founder and CEO, TIER Mobility, said: “The acquisition of Spin and our entry into the North American market are huge milestones in our mission to change mobility for good. We are excited to support citizens in cities and communities across North America to make the switch from cars to more sustainable urban mobility solutions - a switch that is urgently needed to decarbonise towns and cities across the world.”
Ben Bear, CEO, Spin, said: “Both companies believe in helping get people out of cars by offering sustainable, equitable, and safe micromobility services. Together we will be the number one choice of cities and riders globally.”