TIER Mobility Acquires Nextbike To Dominate Bikeshare Market In Europe

TIER Mobility wants to dominate the e-bike and bikeshare market in Europe. (photo: doc. unsplash)

JAKARTA - Berlin-based e-scooter operator TIER Mobility has purchased bike-sharing company Nextbike to create Europe's largest shared light vehicle provider. The announcement about the acquisition came from the company on Monday, November 15.

The deal, which will bring rental bikes, e-bicycles, e-scooters, e-mopeds and cargo bikes into a single network, could mark the first major acquisition in a period of possible consolidation in a highly fragmented industry, with smaller players. will be pictured rising over the next 12 months.

Earlier this year, US urban mobility company Lime raised $523 million from investors to increase production and announce a stock market listing by 2022, while Estonian start-up Bolt launched e-scooter services in nine cities in Germany.

TIER said to combine Nextbike's infrastructure and TIER's financial strength, also supported by a recent round of financing of USD 200 million (IDR 2.8 trillion) which brought TIER's valuation to USD 2 billion (IDR 28 trillion), enabling them to operate in 400 cities with 250.000 vehicles.

"The acquisition of Nextbike - with unrivaled experience and relationships in hundreds of cities - is a unique opportunity to take bikeshare to the next level," TIER Chief Executive Lawrence Leuschner said in a statement, quoted by Reuters.

Unfortunately, TIER and Nextbike declined to provide financial details of the transaction.