2 min

TIER Mobility & Voi: A surprising announcement that stuns

There is no doubt that the European market for electric scooters will never cease to surprise us… According to the media Handelsblatt, TIER Mobility could be ahead of the game. This is thanks to a ‘merger’ with its rival Voi Technology. A capital operation for the German leader in micromobility, which should not cost it so much, according to the few details divulged…

A real masterstroke from TIER

Après avoir levé plus 420 millions d’euros depuis son lancement, Voi n’a pas cessé d’accélérer son développement sur le continent Européen. Comptant plus de 4 millions d’utilisateurs, la jeune scaleup suédoise est principalement implantée dans les pays scandinaves, au Benelux et en Angletterre. En comparant leur couverture, TIER Mobility n’est présent que dans 6 villes en Angleterre, contre 13 pour Voi. Au Danemark, TIER est disponible dans 3 villes contre 7 pour Voi.

In all, there are more than a hundred cities that the German giant is now coveting! These include Vienna and Oslo, two cities where TIER recently lost the tender. A clever strategy, which according to shared mobility expert Augustin Friedel, will enable Voi to “quadruple its coverage”.

With advantageous conditions

Currently in talks according to financial sources, this merger is still rather vague. This is particularly true of its nature. The likely takeover will not involve TIER paying a large sum. Current investors will see their shares in Voi redistributed.

Merger talks were underway with several potential partners. No decision has yet been taken.

Lawrence Leuschner, founder and CEO of Tier to Handelsblat

A deal that is far from certain to be concluded, given the number of investment funds around the table. These include SoftBank, Northzone, Speedinvest, Point Nine, VNV Global AB, Balderton Capital and Project A Ventures. This funding round could lead to discussions with Lime, should they fail to reach an agreement. An alternative that demonstrates TIER’s determination to extinguish its competitors. All that remains to be seen is whether this will really happen, following the example of its competitor Bolt. To be continued…