Tier Mobility AG
TIER Mobility raises US$60 million in its Series B led by Mubadala Capital and Goodwater Capital
TIER Mobility raises US$60 million in its Series B led by Mubadala Capital and Goodwater Capital Berlin, Germany, 7 October 2019 – TIER Mobility, the leading European provider of micro-mobility solutions, today announced a US$60 million Series B funding round led by Mubadala Capital and Goodwater Capital. The company also welcomes AXA Germany and Evli Growth Partners as new investors, in addition to further participation from all existing investors, including White Star Capital, Northzone, Speedinvest, Point9, Indico, Kibo Ventures, Market One Capital and selected business angels like Nico Rosberg. TIER Mobility will use proceeds to accelerate its European expansion strategy and continue to build the leading micro-mobility platform for citizens, city authorities and public transportation partners. Lawrence Leuschner, CEO and Co-founder of TIER Mobility commented: “We are extremely excited to have Mubadala Capital and Goodwater Capital lead this round. Mubadala Capital is not only a renowned lifecycle investor representing one of the largest pools of capital globally; but most importantly, they have a vision for a world transformed by technology and innovation, which closely aligns with our mission to Change Mobility for Good. We are also very pleased to partner with Goodwater Capital, a leading Silicon Valley investor with long-standing track-record of supporting founders as they build companies transforming lives around the world. With their deep experience supporting consumer tech entrepreneurs around the world, they will help us accelerate our expansion plans, bringing the mobility revolution to the largest possible number of users worldwide”. Amer Alaily from Mubadala Capital said: “We firmly believe that micro-mobility as a form of transportation is here to stay, especially in Europe. We are confident that TIER Mobility is best positioned to become the leading player in Europe and Globally. We are excited and look forward to building a global category leading company out of Europe with Lawrence, Matthias, Alex and the wider TIER team.” Chi-Hua Chien, Co-Founder & Managing Partner at Goodwater Capital commented: “TIER Mobility is not only the fastest growing mobility company in the world, but one of the fastest growing companies in consumer tech history. With phenomenal execution they have emerged as the leading micro-mobility provider in Europe with only a fraction of the invested capital of their competitors. This is a true testament to the uniquely capital efficient and profitable model the team chose to deploy from the outset. TIER’s unique approach to operations and partnerships yields superior unit economics and defensibility. We are thrilled to be part of their mission to Change Mobility for Good.” Eric Martineau-Fortin, Founder and Managing Partner of White Star Capital added: “Our team and I have been working closely with Tier Mobility’s management team since we co-led the Series A with Northzone earlier in the year. We’ve been tremendously impressed by the quality of their operations and team. We are thrilled to further invest alongside truly world class investors in the Series B round.” J.P. Morgan acted as exclusive Financial Advisor and Placement Agent in connection with the Series B funding round. About TIER Mobility Mubadala Investment Company actively manages a worldwide portfolio supporting the vision of a globally integrated and diversified economy, through sustainable returns to its shareholder, the Government of Abu Dhabi. Mubadala’s US $229 billion portfolio spans five continents with interests in aerospace, ICT, semiconductors, metals and mining, renewable energy, oil and gas, petrochemicals, utilities, healthcare, real estate, pharmaceuticals, medical technology, agribusiness and a global portfolio of financial holdings. Media contact End of Media Release Issuer: Tier Mobility GmbH Key word(s): Enterprise
07.10.2019 Dissemination of a Press Release, transmitted by DGAP – a service of EQS Group AG. |