Tier, a Berlin, Germany-based micro-mobility company, closed a $250m Series C funding.
The round – subject to statutory closing conditions – was led by SoftBank Vision Fund 2 with participation from existing investors Mubadala Investment Company’s financial investment arm, Mubadala Capital, Northzone, Goodwater Capital, White Star Capital, Novator and RTP Global.
The company intends to use the funds to expand operations and its business reach in Europe. In addition to the closed series C investment round, Tier is currently in the process of securing a debt facility to fund vehicle expansion.
Co-founded by Lawrence Leuschner, Matthias Laug. and Julian Blessin, Tier Mobility is a a micro-mobility company providing people with a wide range of electric vehicles. Tier currently deploys 60.000 e-scooters in 80+ cities in 10 countries and employs about 900 people.