E-scooter Startups TIER and Dott Joint Forces

The transaction is subject to several conditions, and will only be effective once these are met, which is expected to occur within 2 months of this announcement. The companies generate a combined revenue of €250 million and make more than 125 million trips a year in more than 20 countries.

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With operations in major cities around the world, such as Berlin, Brussels, Dubai, Helsinki, London, Madrid, Paris, Rome, Tel Aviv and Warsaw, the company will be well positioned to be profitable and thus support the transition towards more sustainable transport.

The transaction will be backed by a combination of existing TIER and Dott shareholders, led by Mubadala Capital and Sofina, and including Estari, M&G, Naspers, Novator and White Star Capital, who will invest €60 million in capital to support the long-term vision. company term.

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The Berlin-based company will benefit from the experience of the founders and leadership of TIER and Dott: Lawrence Leuschner as President, Henri Moissinac as CEO, Maxim Romain as Chief Operating Officer and Alex Gayer as Chief Financial Officer.

The combined company will offer sustainable transportation to reduce congestion and pollution in urban areas. Its objective will be to reduce car use in cities by offering a reliable and efficient service, well integrated with public transport and with minimal environmental impact.

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Lawrence Leuschner, co-founder and CEO of TIER, said: “I am delighted to join forces with Dott, further strengthening our position as a European champion of micromobility and marking the next phase in the development of the sector. We are united by a common vision of cities with more sustainable transport options and fewer cars, and we are committed to helping users and cities make this a reality. With an expanded footprint and combined experience, I expect to provide a record number of trips in 2024 and achieve full annual profitability.”

Henri Moissinac, co-founder and CEO of Dott, said: “We are very optimistic about the future of shared micromobility. Cities are adapting to reduce car dependency and encourage people to choose sustainable means of transport. We have created a service that users like and that works responsibly. By bringing together TIER and Dott, we are well positioned to capture the next phase of growth and further accelerate our path to profitability. “We are creating the European champion that will provide the best experience to our users, carefully integrated into the cities in which we operate.”

About TIER

TIER Mobility is Europe's leading shared micromobility provider, with a mission to Change Mobility Forever. By providing people with a range of shared light electric vehicles, from e-scooters to e-bikes, TIER helps cities reduce their dependence on cars.

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Founded in 2018 by Lawrence Leuschner, Matthias Laug and Julian Blessin, TIER is headquartered in Berlin and currently operates in more than 400 cities in 21 countries in Europe and the Middle East.

About Dott

Dott is a European micromobility operator founded by Henri Moissinac and Maxim Romain, with the mission to liberate their cities with clean travel for all. Dott currently operates more than 40,000 e-scooters and 10,000 e-bikes in major cities in Belgium, France, Israel, Italy, Poland, Spain and the United Kingdom.

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