Tier acquires Nextbike to round out micro-mobility service
By Linda Fox | November 23, 2021
Micro-mobility specialist Tier has acquired bikeshare provider Nextbike for an undisclosed amount.
The Berlin-based company says it has purchased 100% of the shares in Leipzig-based Nextbike from existing majority shareholder Co-Investor Partners, in an all-cash transaction.
Tier claims the acquisition makes it the "leading micro-mobility provider in the world across multiple two-wheeled modes" with a combined 250,000 vehicles in more than 400 cities.
The acquisition follows the announcement of Tier's series D funding round of $200 million a month ago.
The company also raised $60 million via a debt facility from Goldman Sachs.
Lawrence Leuschner, CEO and co-founder of Tier, says: "The acquisition of nextbike - with its unrivalled experience and relationships across hundreds of cities - is a unique opportunity to take bikeshare to the next level, getting more people out of cars and offering the most sustainable mobility solution.
"I have always held a deep belief in the transformative power of bikes in cities - and it is great to see the bike market is growing rapidly. Our shared values of sustainability and respect for cities across two strong leadership teams, underpinned by Tier's financial backing and capital efficiency, present an unstoppable, joint mission to change mobility for good."
In April, Tier acquired Hungary-based software development company Makery to give it a technology development center outside of its presence in London and Berlin.
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