Berlin-based micro-mobility provider Tier is making its fourth
acquisition in less than a year, this time scooping up North America-based electric
scooter and bike operator Spin from automaker Ford.
Terms of the deal are not being disclosed.
In December, Tier acquired
Vento Mobility, the Italian subsidiary of Wind Mobility. In November it picked up German bikeshare provider Nextbike and in
April it acquired
Hungary-based software development company Makery.
With those acquisitions, Tier has been operating in more
than 410 cities with a fleet of 250,000 vehicles.
The addition of Spin brings in 50,000 additional vehicles
and expands Tier’s services to more than 520 cities in 21 countries, now
including the United States and Canada.
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The company says this makes it the largest multimodal micromobility
operator in the world.
“Tier’s acquisition of Spin and our entry into the North
American market are huge milestones in our mission to ‘Change Mobility for Good,’”
says Lawrence Leuschner, CEO and co-founder of TIER Mobility.
“We are excited to support citizens in cities and
communities across North America to make the switch from cars to more
sustainable urban mobility solutions - a switch that is urgently needed to
decarbonize towns and cities across the world. We look forward to delivering
this together with Spin who share our values of responsible partnership and
Founded in 2018, Tier says one of the next steps in its
sustainability effort will be to update the Spin fleet with 100% swappable batteries.
“Tier and Spin share the same foundational view of how to
deliver world-class micromobility services to cities and riders. Both companies
believe in a partnership-first approach, operating with employees rather than
contractors, and helping get people out of cars by offering sustainable,
equitable, and safe micromobility services,” says Ben Bear, CEO of Spin.
“We couldn’t be more excited to continue scaling the Spin
movement in North America as part of the Tier family.”
In October 2021, Tier
raised $200 million in Series D funding, bringing its total funding to $660
million in equity and debt. The company’s investors include SoftBank Vision
Fund 2, Mubadala Capital, Northzone, Goodwater Capital, Novator, Speedinvest,
RTP Global and White Star Capital.