White Star Capital is proud to be co-leading Tier’s $60m Series B alongside Mubadala Capital and Goodwater Capital
Last spring we co-led the c. $30m Series A round in Tier Mobility, the fastest growing e-scooter company in the world, with at the time 3 million rides achieved in 7 months (read more here), and more broadly the fastest growing company in consumer tech history.
Where are we 7 months later?
- New $60m round announced: We are proud to announce today that Tier Mobility just raised a $60m Series B round led by Mubadala Capital, Goodwater Capital and the White Star Capital team. The round welcomes other great new entrants such as AXA and Evli Growth, alongside existing investors.
- Tremendous growth: Tier has become the leading European e-scooter player, with 10 million rides achieved since inception in less than a year, faster than any other e-scooter competitor. Since its Series A round, the Company more than tripled the number of cities where it operates, being now present in 40 cities across 12 countries, with a team of 350 employees working hard to disrupt mobility for good.
- Continued focus on capital efficiency, operational excellence and sustainability: This lies at the heart of Tier Mobility’s DNA. With only c. $30m raised during its Series A round, Tier managed to outperform most players on the market. With now c. $100m raised to date, Tier could not be in a better position to dominate the European market. It was what we at White Star Capital believed in when we first invested last March, and is also what had attracted our new co-investors to jump on board and help support Tier Mobility in its mission to disrupt mobility for good.
Tier’s exponential growth could only have been achieved by the unique and sustainable model that CEO Lawrence Leuschner and his team managed to set up, from mastering their own operations, to signing key partnerships with top players in the public and clean transportation areas.
We are extremely proud to continue supporting Tier’s initiative and are delighted to welcome the new investors onboard, who will bring invaluable and complementary expertise, and who have recognized Tier, not only as the leading European e-scooter company, but more importantly, as the next leading European mobility service provider.
This is only the beginning.
About White Star Capital
White Star Capital is an international venture and early growth-stage investment platform in technology. Our presence over three continents, differentiated perspective, and people enable us to partner with founders to help them scale internationally.
Learn more at www.whitestarcapital.com