Berlin-based micromobility provider TIER Mobility, has purchased the Ford-owned shared electric bike and scooter operator, Spin. Through the acquisition TIER is not only expanding into the United States and Canada, but also, it says, becomes the largest multimodal micromobility operator globally in terms of number of cities and vehicles.
Through the purchase TIER has acquired 50,000 vehicles taking its fleet to 300,000 vehicles operating in “more than 520 cities and communities in 21 countries”.
Spin has a number of strong city partnerships in North America and has developed innovative pavement riding detection technology. TIER is strong across Europe and is known for its swappable battery technology.
The acquisition, says TIER, brings together two international players to become “the most responsible and sustainable micromobility partner for cities in the world.
“Together, TIER and Spin will continue to pioneer the development of new standards and to build trust in e-scooters and e-bikes among communities and cities by enabling technology that creates a safer experience for riders, pedestrians and all other road users on both sides of the Atlantic.
TIER adds that modernising the Spin fleet with 100% swappable batteries will be one of many upcoming projects to achieve environmental sustainability and efficiency in the North American micromobility industry.
Lawrence Leuschner, CEO and co-founder of TIER Mobility, said, “TIER’s acquisition of Spin and our entry into the North American market are huge milestones in our mission to Change Mobility for Good.”
Ben Bear, CEO of Spin, added, “TIER and Spin share the same foundational view of how to deliver world-class micromobility services to cities and riders. Both companies believe in a partnership-first approach, operating with employees rather than contractors, and helping get people out of cars by offering sustainable, equitable, and safe micromobility services. Together we will be the number one choice of cities and riders globally.”
Franck Louis-Victor, Vice President, New Businesses at Ford Motor Company said, “We are proud Spin has become a trusted micromobility partner for cities across North America and the United Kingdom. We believe there are incredible synergies between Spin and TIER, and this new era will provide scale that’s desperately needed in the competitive micro-mobility sector. We are pleased to remain in the mix as a strategic investor in TIER and look forward to their continued growth.”
This is the third acquisition TIER has made in recent months, following Italian market leader Wind Mobility, and Europe’s top bikeshare player nextbike. In October 2021, TIER announced the first close of its $200 million Series D funding round, solidifying its position as the best-funded micromobility company in Europe. To date, TIER has raised a total of $660 million in equity and debt.