Tier announced raising $250 million in a Series C round led by Softbank

Tier, a Berlin, Germany-based company providing a scooter rental service, announced completing a $250 million Series C financing round.

The money was raised from investors led by SoftBank through its Vision Fund 2. Existing investors Mubadala, Northzone, RTP Global, Goodwater Capital, White Star Capital and Novator are also participating in the financing round.

In addition to the Series C investment round, Tier is currently securing a significant debt facility to finance vehicle expansion. Proceeds wll also be used to launch the Tier Energy Network, a network of charging stations to be installed in cities across Europe to charge electric vehicles. 

Tier, founded in 2018 by CEO Lawrence Leuschner, Matthias Laug and Julian Blessin, developed an on demand service for e-scooters, available in 80 cities in ten countries. The company claims that it is already profitable since June 2020.