TIER has just announced the first close of its $200 million Series D funding round, consolidating its position as the best funded micro-mobility company in Europe. As part of a broader equity and debt raise, this round of funding is led by previous investors SoftBank Vision Fund 2, Mubadala Capital and adds new partners like M&G Investments, a green impact fund, and Mountain Partners, a diversified global investment holding. The funding provides TIER with additional resources to fulfil its mission to Change Mobility For Good by providing the safest, most equitable and sustainable mobility solution in the market.
TIER plans to use the funds for acquisitions and strategic investments, while expanding its international coverage across strategic growth markets. TIER will also further invest in extending its multi-modal fleet across Europe and the Middle East and continue the roll- out of its innovative TIER Energy Network, a network of battery charging stations hosted by local businesses.
The funding comes on the back of a momentous year for TIER. The company recently entered its 16th country and also significantly expanded its presence across Europe and the Middle East with new cities such as Manama (Bahrain), Doha (Qatar), and London, after winning the tender to run the capital’s first e-scooter scheme. With the launch of e-bikes in several European countries, TIER is expanding its growing range of multimodal options, making it the first European micro-mobility provider to offer users three different types of vehicles in one app.
With a $2 billion valuation, TIER has raised a total of $660 million in equity and debt funding to date.
