Micromobility operator TIER has announced the acquisition of German-based bikeshare firm nextbike, purchasing 100 per cent of its shares.
The move comes shortly after TIER secured $200 million in a recent funding round, taking the Berlin firm’s valuation to $2 billion.
Combined, the operators provide more than 250,000 micromobility devices in over 400 cities, with nextbike having become well-established since its foundation in 2004.
TIER already operates shared e-scooters, e-bikes, and e-mopeds across Europe, with a presence in 16 counties around the world.
Over the past year, nextbike has seen a 50 per cent increase in usage and has provided 17 countries with new bikes in the last 18 months.
“The acquisition of nextbike – with its unrivalled experience and relationships across hundreds of cities – is a unique opportunity to take bikeshare to the next level, getting more people out of cars and offering the most sustainable mobility solution,” said TIER CEO Lawrence Leuschner.
“I have always held a deep belief in the transformative power of bikes in cities – and it is great to see the bike market is growing rapidly. Our shared values of sustainability and respect for cities across two strong leadership teams, underpinned by TIER’s financial backing and capital efficiency, present an unstoppable, joint mission to change mobility for good.”
CEO of nextbike Leonhard von Harrach added: “Since 2004, we have been providing sustainable mobility to hundreds of thousands of people every day and have established bike sharing as a component of public transport worldwide. We decided to partner with TIER because there is a significant common ground in the corporate culture. Above all, however, we are united in our mission to make cities more liveable with our mobility services and to do something about traffic congestion, pollution and noise.”