Tier Mobility, a Berlin, Germany-based e-scooter startup, raised €25m in Series A funding.
The round was led by Northzone, with participation from existing investors Point Nine and Speedinvest, and a syndicate that includes Spain-based Kibo Ventures.
The company intends to use the funds to launch their shared electric scooter platform across Europe.
Co-founded by Lawrence Leuschner, Julian Blessin, and Matthias Laug, Tier provides an electric scooter sharing service that allow people to rent the scooters via an Android and iOS app.
The company’s Tier is an electric scooter or electric kickboard powered by an electric battery, getting users to a maximum speed of 20-25km/h.
To use the service, there is a €1 activation fee to unlock a TIER Scooter plus a variable fee of €0,15 per minute with no other registration fee or upfront payment.