Micromobility company acquires Leipzig bike-sharing provider
European scooter operator Tier Mobility has announced the acquisition of German bike-sharing platform Nextbike, underlining its intention to become one of the world’s leading providers of two-wheeled micro-mobility.
Berlin-based Tier bought 100% of the shares in the Leipzig-based bike-sharing company.
With this acquisition, Tier expands its existing portfolio of shared light electric vehicles with rental bicycles and e-bikes. Tier says the combined strength of the merged companies will create Europe’s largest and most diverse micromobility provider with some 250,000 vehicles in more than 400 cities.
Nextbike has been operating bicycle rental systems since 2004 – primarily as an exclusive operator for cities – and Tier reports that it has established a profitable shared mobility business model over its 17 year history.
“The acquisition of Nextbike, with its unrivaled experience and relationships in hundreds of cities, is a unique opportunity to take bike sharing to the next level, getting more people out of the car and offering the ultimate mobility solution. more sustainable, ”said Lawrence Leuschner, CEO and co. -Founder of Tier Mobility.
“We are united in our mission to make cities more livable with our mobility services and to fight against traffic jams, pollution and noise”
“I’ve always believed deeply in the transformative power of bicycles in cities, and it’s great to see the bicycle market growing so quickly. Our shared values of sustainability and respect for cities through two strong leadership teams, underpinned by Tier financial support and capital efficiency, present an unstoppable joint mission to change mobility for good.
Tier said its vision for a comprehensive portfolio of mobility options is becoming a reality. Combining bikes, e-bikes, cargo bikes, electric scooters and electric mopeds in floating, station-based and hybrid sharing systems creates a multimodal platform, according to Tier. This makes it easier for users to choose between different means of transport for each route without using their own car.
Under the terms, Tier will acquire the shares of the former majority shareholder Co-Investor Partners, an equity investor focused on high growth companies in the region of Germany, Austria and Switzerland (Dach), and all other shareholders in a transaction. The amount of the purchase price and other financial details of the transaction will not be disclosed.
“Since 2004, we have offered sustainable mobility to hundreds of thousands of people every day and have made bike sharing a component of public transport around the world.
“We decided to partner with Tier because there is a lot of common ground in the corporate culture,” added Leonhard von Harrach, CEO of Nextbike.
“But above all, we are united in our mission to make cities more livable with our mobility services and to fight against traffic jams, pollution and noise. The fact that this is a reality today is due, among other things, to the founders of Nextbike, who were pioneers in the European mobility sharing market and already rented bikes when there was no applications.
Electric bike service
Tier reports that it has expanded its presence to 16 countries in Europe and the Middle East with market entries in Hungary, the Netherlands and Bahrain. The bike-sharing investment follows its massive commitment to e-bikes in recent months, with launches in London and Stockholm as part of an expansion of its e-bike service to six countries.
In October, the company announced the closing of its $ 200 million Series D funding round. With a valuation of $ 2 billion, Tier has so far raised a total of $ 660 million in equity and in loan capital.
Nextbike reports that in total it has delivered 60 projects in 17 countries with new bikes in the past 18 months. Highlights include the modernization of the KVB bicycle in Cologne with 3,000 new bicycles, the extension of the network to Budapest, Bilbao and Gothenburg, as well as the entry into the market of Italy and Montenegro.