E-scooter startup Tier buys Nextbike to double down on commitment to e-bikes

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Berlin-based Tier Mobility, one of the largest e-scooter operators in Europe, recently acquired German bike-sharing platform Nextbike. The move reflects Tier’s commitment to the same multi-modal approach that competitors such as Lime and Voi have followed to take advantage of the existing market share. This is the latest major acquisition in the micromobility industry that could herald further consolidation in the future.

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Last year, Lime acquired Uber’s micromobility subsidiary Jump and all of its e-bikes and e-scooters as part of Uber’s $170 million investment in the company. Earlier this month, Lime raised $523 million, which it says could be the final raise as it prepares to go public.

Tier and Nextbike didn’t disclose the terms of the deal, but Tier will fund the acquisition with a $200 million all-equity Series D led by SoftBank Vision Fund 2, which last month announced its multi-modal market presence globally. was raised to enhance and strategically pursue. Investment and acquisition. Series D raised $60 million in debt this summer and a $250 million Series C last November, also led by SoftBank.

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Tier, which also has a fleet of e-mopeds, is heavily committed to e-bikes in recent months, with launches in London and Stockholm as part of e-bike expansion plans in six countries. As part of the deal, Tier will acquire NextBike’s fleet of approximately 115,000 analog and electric bikes, as well as gain access to new territories in the 28 countries where NextBike currently operates. It will also take over NextBike’s headache in some cities.

Nextbike just had to Suspend operations in Cardiff and the Valley of Glenmorgan After more than half the bikes in Wales were stolen and destroyed. The company, which has been operating its public bikeshare scheme since 2004, now has to repair and replace damaged bikes, and if the situation does not improve, the scheme may be permanently closed in the area, but it The problem will obviously come down to the level now. to handle.

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Tier, which operates in over 160 cities in 16 countries across Europe and the Middle East, does not already have a presence in Wales. With Nextbike, the tier will have over 250,000 vehicles in over 400 cities. According to the company, its fleet will include cycles, e-bikes, cargo bikes, e-scooters and e-mopeds in a free-floating, station-based and hybrid sharing system.

“The acquisition of NextBike – with its unmatched experience and relationships in hundreds of cities – is a unique opportunity to take bikeshare to the next level, get more people out of cars and offer the most sustainable mobility solution possible,” said Lawrence Lushner, CEO and CEO of NextBike. co-founder Tier said in a statement. “Our shared values ​​of sustainability and respect for cities in two strong leadership teams, underscored by Tier’s financial backing and capital efficiency, present an unstoppable, joint mission to transform mobility for good.”

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