E-scooter start-up Tier receives loan of 60 million US dollars
The money comes from the investment bank Goldman Sachs. The scooter provider intends to use the money to expand its market leadership.
The Berlin-based e-mobility start-up Tier has received a loan of the equivalent of 49 million euros from the investment bank Goldman Sachs. The start-up intends to use this to buy even more scooters "to cement its market leadership", says Alex Gayer, CFO at Tier. The prerequisite for the loan was the successful Series C financing round from 2020 amounting to 250 million US dollars, which was led by Softbank.
Tier also wants to expand its charging network. In Europe and the Middle East, charging stations are to be set up in stores where customers can bring their own scooters for charging.
Tier also wants to expand into Slovakia and Hungary, reports the Handelsblatt. The start-up is also aiming for Ireland, but there is still a lack of legal regulation there. Tier was founded in 2018 by former Rebuy boss Lawrence Leuschner and is active in more than 100 cities.
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