It’s official! Contrary to predictions, TIER and Dott, two major players in micromobility, have announced in a press release a preliminary agreement to merge. Their ambition? To create Europe’s leading micromobility operator. Finalized within the next two months, this agreement promises a new entity ready to take on the challenges of the self-service electric scooter and bike sector. Find out more behind the scenes of this merger, which is already generating a lot of excitement…
A strategic merger
This strategic merger between TIER Mobility and Dott is designed to meet the continuing challenges in the self-service electric scooter and bicycle sector which has been marked by significant losses. The merger will be supported by a group of shareholders led by Mubadala Capital and Sofina. Other contributors include Estari, M&G, Prosus Ventures, Novator and White Star Capital. In total, they will inject 60 million euros in equity. This initiative reflects the shareholders’ strong support for the successful merger of TIER and Dott in the fast-changing market.
Maintaining brands and services
Unlike other mergers, TIER and Dott have opted to retain both brands. This decision is designed to ensure continuity of service without disruption for existing users. But also to maintain their footprint in strategic areas. In addition, the companies have combined sales of 250 million euros, supporting over 125 million journeys a year in more than 20 countries. These include Berlin, Brussels, Dubai, Helsinki, London, Madrid, Paris, Rome, Tel Aviv and Warsaw. With operations in these major global cities, the company will be well-placed to be profitable and support the transition to more sustainable transport.
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.Lawrence Leuschner, Co-Founder and CEO, TIER
Advantages and prospects of this merger
The merger of TIER Mobility and Dott promises to be a major turning point in the field of micromobility. The new company will be dedicated to providing more sustainable transportation options. Its mission is to reduce car use by offering users an efficient service, integrated with public transport. And in so doing, reduce congestion and pollution. The new entity will combine the market-leading expertise of both models and integrate the advanced technology of each service. This strategic alliance, scheduled to take place over the coming months, could redefine industry standards. But it will also consolidate the position of both companies in the face of growing global competition. A matter to be followed closely, as this merger could be the catalyst for significant changes in the near future…
We’re very optimistic about the future of shared micromobility. Cities are adapting to reduce car dependency, and encouraging people to make sustainable transport choices. We’ve built a service that users love, operated responsibly. By bringing TIER and Dott together, we are well-placed to seize the next phase of growth and further accelerate our path to profitability. We are creating the European champion that will deliver the best experience to our users, carefully integrated with the cities in which we operate.Henri Moissinac, Co-Founder and CEO, Dott