Berlin-based micromobility companies Tier and Dott have announced a merger to form the principal micromobility operator in Europe. This joint entity, however, will continue to operate under the distinct Tier and Dott brands, each maintaining its separate app. Users will retain access to both apps, with the possibility of increased convergence in the future.
The primary objective of this merger is not to create a new brand but to leverage the combined expertise of Tier and Dott to provide users and cities with a safe and reliable micromobility service. The union is subject to various conditions and will only become effective upon their fulfillment and the completion of the operation, expected by mid-March.
This 60-million-euro stock-based operation is supported by a mix of existing shareholders from Tier and Dott, including Estari, M&G, Prosus Ventures, Novator, White Star Capital, Mubadala Capital, and Sofina leading the way.
Henri Moissinac, co-founder and CEO of Dott, expressed optimism about the future of shared micromobility, stating, “Cities are adapting to reduce dependence on cars and encourage people to make sustainable transportation choices. By combining Tier and Dott, we are well-positioned to capture the next phase of growth and further accelerate our path to profitability. We are creating the European leader that will provide the best experience to our users, seamlessly integrated into the cities where we operate.”
The new entity, headquartered in Berlin, will be led by the founders and leadership of both Tier and Dott. Lawrence Leuschner will serve as President, Henri Moissinac as CEO, Maxim Romain as COO, and Alex Gayer as CFO.
Together, Tier and Dott generate a combined revenue of 250 million euros and support over 125 million trips annually in more than 20 countries. Operating globally, these mobility companies have a presence in cities such as Berlin, Copenhagen, Brussels, Dubai, Helsinki, London, Madrid, Paris, Rome, Tel Aviv, and Warsaw, among others.
Lawrence Leuschner, co-founder and CEO of Tier, expressed his excitement about the merger, stating, “I am pleased to join forces with Dott, further strengthening our position as the leader of micromobility in Europe and marking the next phase in the industry’s development. We share a common vision of cities with more sustainable transport options and fewer cars, and we are committed to helping users and municipalities realize this vision. With a broader footprint and combined expertise, we look forward to providing a record number of rides in 2024.“