TIER and Dott partner to create Europe’s premier micro-mobility operator

Credit: TIER Mobility

TIER Mobility and Dott have announced a landmark preliminary agreement to merge and establish Europe’s leading micro-mobility operator. The joint entity, continuing under the TIER and Dott brands, aims to combine their expertise to offer a safe and reliable service.

The agreement is contingent upon the fulfilment of several conditions, with the effective closing expected within the next two months. The combined revenues of both companies amount to €250 million, supporting over 125 million trips annually in more than 20 countries. Operating in major global cities such as Berlin, Brussels, Dubai, Helsinki, London, Madrid, Paris, amongst others, the new business is poised to be profitable and play a pivotal role in promoting sustainable transport.

Backed by a mix of existing shareholders from both TIER and Dott, the deal will be spearheaded by Mubadala Capital and Sofina. Notable contributors include Estari, M&G, Prosus Ventures, Novator and White Star Capital, injecting €60 million in equity to support the long-term vision of the newly formed joint business.

The leadership of the Berlin-based company will comprise Lawrence Leuschner as Chairman, Henri Moissinac as Chief Executive Officer, Maxim Romain as Chief Operating Officer and Alex Gayer as Chief Financial Officer, pooling their extensive experience from both TIER and Dott.

The unified team’s mission is to operate responsibly in every city, focusing on providing users with a reliable service, supporting city goals for sustainable transport, and offering an environmentally-friendly service with low emissions and a responsible lifecycle approach.

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The joint venture is committed to providing more sustainable transport options to reduce congestion and pollution in urban areas. Their goal is to lower car usage by offering a reliable and efficient service, integrated seamlessly with public transport and causing minimal environmental impact.

Lawrence Leuschner, Co-Founder and CEO of TIER, said: “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.”

Henri Moissinac, Co-Founder and CEO of Dott, said: “By bringing TIER and Dott together, 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 we operate in.”

Riders can expect to continue accessing TIER and Dott vehicles through their respective apps, with the possibility of further convergence in the future.