TIER and Dott Merge to Redefine Micro-Mobility in Europe
TIER and Dott have agreed to merge and create Europe’s top micro-mobility operator. The new entity will operate using both TIER and Dott brands, working together to offer a safe and dependable service as the leading shared mobility provider in Europe. Meeting specific conditions is a prerequisite for completing the merger, and the anticipated timeframe for this is within two months of the original announcement.
The agreement receives support from current shareholders of both TIER and Dott, primarily led by Mubadala Capital and Sofina. Estari, M&G, Prosus Ventures, Novator, and White Star Capital are also contributing €60 million in equity to back the plans of the merged company.
TIER and Dott are committed to offering more sustainable transport choices and reducing congestion and pollution in cities. Their mission is to decrease car usage by providing a reliable and efficient service, well-integrated with public transport and with minimal environmental impact. The combined entity will bring together expertise from both models and incorporate advanced technology from each service.
TIER and Dott collectively make €250M in revenue and facilitate over 125 million trips annually across 20+ countries. Operating in key cities worldwide such as Berlin, Brussels, Dubai, Helsinki, London, Madrid, Paris, Rome, Tel Aviv, and Warsaw, they aim to turn a profit while promoting the shift to greener transportation. The Berlin-based company will leverage the expertise of key leaders from both TIER and Dott: Lawrence Leuschner as Chairman, Henri Moissinac as CEO, Maxim Romain as COO, and Alex Gayer as CFO.
Lawrence Leuschner, Co-Founder and CEO, 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. With an expanded footprint and combined expertise, I look forward to providing a record number of rides in 2024.”
Henri Moissinac, Co-Founder and CEO, Dott, said:
“We are very optimistic about the future of shared micromobility. Cities are adapting to reduce car dependency, and encouraging people to make sustainable transport choices. We have built a service that users love, operated in a responsible way. 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.”
