E-scooter operator Tier has acquired bikeshare company nextbike, to create Europe’s largest and diverse micromobility provider, with more than 250,000 vehicles in over 400 cities.
The Berlin-based company has purchased 100% of the shares in the Leipzig-based nextbike. With the acquisition, Tier expands its large portfolio of shared, light electric vehicles, which includes rental bikes, e-bikes, cargo bikes and e-scooters.
nextbike has been operating bike rental systems since 2004, mostly as an exclusive operator for cities, and has established a profitable shared mobility business model. Tier said together with nextbike, its vision of a complete portfolio of mobility options is now becoming reality.
Lawrence Leuschner, CEO and Co-Founder of Tier Mobility, explained: “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.
“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.”
Tier will acquire the shares from the previous majority shareholder Co-Investor Partners, an equity investor focused on high-growth companies in the DACH region, and all other shareholders in an all-cash transaction. The amount of the purchase price and further financial details of the transaction will not be disclosed.
Leonhard von Harrach, CEO nextbike, 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. The fact that this is a reality today is due to, among other things, to the founders of Nextbike, who were pioneers in the European mobility sharing market and were already renting out bicycles when there were no apps.”