Micromobility operator TIER is today acquiring bike-share company nextbike.
With the acquisition, TIER is expanding its portfolio of shared, light electric vehicles with rental bikes and e-bikes. nextbike has been operating bike rental systems since 2004, mostly as the exclusive operator for cities, and has established a profitable shared mobility business model.
Lawrence Leuschner, CEO and co-founder of TIER Mobility, said: “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.”
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.”