Northzone leads €25m series-A for Tier Mobility

The company's existing backers, Point Nine, Speedinvest and Spain-based Kibo Ventures, also took part in the latest financing.

It is the largest series-A round that Northzone has ever led. The VC's contribution was drawn from its latest fund, Northzone VIII, which held a final close on €300m in September 2016.

The fresh capital will be used to roll out electric scooters across Europe. Northzone partner Paul Murphy explained the rationale for the investment in a blog post, writing that poor air quality combined with good cycling infrastructure in European cities means they have a strong demand for electric scooter services.

Murphy added that Northzone chose to back Tier Mobility over its competitors due to its long-term vision for tackling urban pollution and congestion, as well as its commitment to working with local municipalities.

Previous funding
Point Nine, Speedinvest and Spain-based Kibo Ventures provided Tier Mobility with €4m in seed funding earlier this year.

Company
Tier Mobility was founded in Vienna by Lawrence Leuschner, Julian Blessin and Matthias Laug. It provides electric scooters that can be located and hired through an app for a fixed fee of €1 and an additional 15 cents per minute.

People
Northzone – Paul Murphy (partner).
Tier Mobility – Lawrence Leuschner, Julian Blessin, Matthias Laug (co-founders).

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