TIER has announced that it is acquiring Europe’s top bikeshare player nextbike, after purchasing 100% of shares. The acquisition means that Tier will be one of the largest and most diverse micro-mobility providers in Europe with more than 250,000 vehicles in over 400 cities.
Lawrence Leuschner, CEO and Co-Founder of TIER Mobility said: “The acquisition of nextbike – with its unrivalled experience and relationships across hundreds of cities – is a unique opportunity to take bikeshare to the next level, getting more people out of cars and offering the most sustainable mobility solution. 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.”
Leonhard von Harrach, CEO nextbike said: “Since 2004, we have been providing sustainable mobility to hundreds of thousands of people every day and have established bike sharing as a component of public transport worldwide. We decided to partner with TIER because there is a significant common ground in the corporate culture. Above all, however, we are united in our mission to make cities more liveable with our mobility services and to do something about traffic congestion, pollution and noise.”
The company has also committed heavily to e-bikes in recent months, with launches in London and Stockholm as part of an expansion of its e-bike service across six countries. In October, TIER announced the closing of its US$200 million Series D funding round. At a valuation of $2 billion, TIER has raised a total of $660 million in equity and debt capital so far.