VC consortium backs $60m series-B for Tier

The round was led by Mubadala Capital and Goodwater Capital and included contributions from new investors Axa Germany and Evli Growth Partners, as well as all existing investors.

Existing investors include White Star Capital, Northzone, Sppedinvest, Point9 Capital, Indico Ventures, Kibo Ventures, Market One Capital and business angels such as Nico Rosberg.

Tier has added 40 new cities in 12 countries since it raised €25m for its series-A round at the end of last year and now employs 350 people. The fresh capital will be used to continue and accelerate its European expansion.

JP Morgan acted as financial adviser and placement agent for the raise.

Previous funding
Point9, Speedinvest and Kibo Ventures provided Tier Mobility with €2m in seed funding early in 2018, and all returned to a €25m series-A in October.

Company
Tier Mobility was founded in Vienna by Lawrence Leuschner, Julian Blessin and Matthias Laug and is now headquartered in Berlin. It provides electric scooters that can be located and hired through an app. It is operating in 40 cities in 12 countries worldwide.

People
Goodwater Capital – Chi-Hua Chien (managing partner).
Mubadala Capital – Amer Alaily (senior principal).
White Star Capital – Eric Martineau-Portin (managing partner).
Tier Mobility – Lawrence Leuschner (CEO).

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Send to  

• Topics
• Expansion
• DACH
• Consumer
• Germany
• Venture