TIER and Dott Join Forces to Create Europe’s Largest E-Scooter Rental Powerhouse
TIER and Dott have today revealed a preliminary agreement to merge, forming Europe’s premier micro-mobility operator. The united venture will maintain operations under both the TIER and Dott brands, leveraging collective expertise to offer riders and cities a secure and dependable service as the foremost shared mobility provider in Europe.
Completion of the transaction is contingent upon various conditions and is slated to become effective upon their fulfillment and closure, anticipated within two months of this announcement.
Together, the companies boast a combined revenue of €250 million, facilitating over 125 million trips annually across more than 20 countries. With a presence in major global cities such as Berlin, Brussels, Dubai, Helsinki, London, Madrid, Paris, Rome, Tel Aviv, and Warsaw, the joint enterprise is strategically positioned to enhance profitability and facilitate the shift towards more sustainable transportation.
The agreement will receive support from a blend of existing shareholders from both TIER and Dott, led by Mubadala Capital and Sofina, including Estari, M&G, Prosus Ventures, Novator, and White Star Capital. These entities are injecting €60 million in equity to underpin the long-term vision of the new joint venture.
Headquartered in Berlin, the combined company will draw on the expertise and leadership of TIER and Dott’s founders: Lawrence Leuschner as Chairman, Henri Moissinac as Chief Executive Officer, Maxim Romain as Chief Operating Officer, and Alex Gayer as Chief Financial Officer.
The unified team is committed to responsible operations in every city, focusing on:
Users: Delivering a dependable service that becomes an integral part of citizens’ everyday lives.
Cities: Supporting sustainable transport goals, with respectful integration into public spaces.
Environment: Offering an environmentally-friendly service, characterized by low emissions and a responsible lifecycle approach.
The consolidated company is dedicated to providing more sustainable transport options to reduce congestion and pollution in urban areas. Its mission is to diminish car usage by providing users with a reliable and efficient service seamlessly integrated with public transport and boasting minimal environmental impact. The new entity will amalgamate the market-leading expertise from both operating models and incorporate advanced technology from each service.
Lawrence Leuschner, Co-Founder and CEO of Tier, expressed enthusiasm, stating, “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.”
Henri Moissinac, Co-Founder and CEO of Dott, echoed this sentiment, saying, “By bringing TIER and Dott together, we are well positioned to capture the next phase of growth and further accelerate our path to profitability.”
Riders will continue to access TIER and Dott vehicles through their respective apps, with potential convergence in the future.