Amsterdam’s Dott and Berlin’s TIER Mobility are joining forces to form Europe’s leading micro-mobility operator.
Under the preliminary agreement, the joint entity will operate as TIER and Dott, combining their expertise to provide shared mobility services to European riders and cities.
The deal will be backed by a mix of existing shareholders from both TIER and Dott, led by Mubadala Capital and Sofina, and including Estari, M&G, Prosus Ventures, Novator, and White Star Capital, which are investing €60M in equity to support the long-term vision of the new joint business.
The transaction is subject to several conditions and will be only effective upon their fulfilment and closing, expected within two months of this announcement.
Dott x TIER Mobility
Dott and TIER Mobility, together, generate combined revenues of €250M, supporting over 125M trips a year in more than 20 countries.
With operations in major global cities including Berlin, Brussels, Dubai, Helsinki, London, Madrid, Paris, Rome, Tel Aviv, and Warsaw, the business will be well positioned to be profitable and support the transition to more sustainable transport.
The Berlin headquartered company will benefit from the experience of the founders and leadership from TIER and Dott:
- Lawrence Leuschner as Chairman
- Henri Moissinac as Chief Executive Officer
- Maxim Romain as Chief Operating Officer
- Alex Gayer as Chief Financial Officer
The newly merged company will focus on providing sustainable transportation options to decrease traffic jams and pollution in urban areas.
The goal is to reduce car usage by offering users a dependable and effective service that is well-integrated with public transportation and has a minimal environmental impact.
Dott: What you need to know
Founded in 2018 by Henri Moissinac and Maxim Romain, Dott is a micro-mobility operator who aims to free cities with clean rides for everyone. With speeds up to 25kph, e-bikes provide an efficient way to move across a city, free from congestion and without causing pollution.
Dott operates over 40,000 e-scooters and 10,000 e-bikes in top cities in Belgium, France, Israel, Italy, Poland, Spain, and the UK.
Henri Moissinac, co-founder and CEO of Dott, says, “We are very optimistic about the future of shared micromobility. Cities are adapting to reduce car dependency and encouraging people to choose sustainable transport. We have built a service that users love, operated responsibly.”
“By bringing TIER and Dott together, we are well-positioned to capture the next growth phase 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 we operate in,” adds Moissinac.
About TIER Mobility
Founded in 2018 by Lawrence Leuschner, Julian Blessin, and Matthias Laug, TIER Mobility is a shared micro-mobility provider of e-scooters, e-bikes, and e-mopeds integrated with 30 public transport providers.
Through its platform, the company allows the integration of all micro-mobility assets.
This enables it to enter strategic partnerships with public transportation providers and other mobility providers, such as Sixt – a German multinational car rental company.
TIER operates in 400+ cities across 21 countries in Europe and the Middle East.
Lawrence Leuschner, co-founder and CEO of TIER, says, “I am delighted to join forces with Dott, further strengthening our position as the European micro-mobility champion and marking the next phase in the development of the industry. We are united by a shared 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 expertise, I look forward to providing a record number of rides in 2024.”
Read the orginal article: https://siliconcanals.com/news/startups/dott-tier-mobility-to-merge/
