Dott and TIER Mobility to merge to create a European micro-mobility giant; Mubadala, Prosus, others will back the JV with €60M
Summary
Under the preliminary agreement, the joint entity will operate as TIER and Dott, combining their expertise to provide shared mobility services to European riders and cities. With operations in major global cities including Berlin, Brussels, Dubai, Helsinki, London, Madrid, Paris, Rome, Tel Aviv, and Warsaw, the business will be well positioned to be profitable and support the transition to more sustainable transport. The goal is to reduce car usage by offering users a dependable and effective service that is well-integrated with public transportation and has a minimal environmental impact. We have built a service that users love, operated responsibly.” “By bringing TIER and Dott together, we are well-positioned to capture the next growth phase and further accelerate our path to profitability. Lawrence Leuschner, co-founder and CEO of TIER, says, “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.
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