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PRESS RELEASE: TIER, the European micro-mobility leader, raises USD60 million in Asset-Backed Financing from Goldman Sachs

06/02/2021 | 02:03am EDT
DGAP-News: Tier Mobility GmbH / Key word(s): Miscellaneous 
TIER, the European micro-mobility leader, raises USD60 million in Asset-Backed Financing from Goldman Sachs 
2021-06-02 / 08:00 
The issuer is solely responsible for the content of this announcement. 
=---------------------------------------------------------------------------------------------------------------------- 
TIER, the European micro-mobility leader, raises USD60 million in Asset-Backed Financing from Goldman Sachs 
Berlin, June 2, 2021 - TIER, the European micro-mobility leader, has secured USD60m of asset-backed financing from 
Goldman Sachs. The debt facility from the leading investment banking, securities and investment management firm is the 
first of such scale in micro-mobility and will fuel TIER's e-scooter fleet expansion for 2021. 
In what is a proven model in the automotive sector, climate-neutral TIER has now unlocked significant asset-backed 
financing in micro-mobility. The innovative move by Goldman Sachs signals another major vote of confidence in a 
business that has performed strongly despite the Covid-19 crisis, following TIER's recent USD250m Series C funding round 
led by SoftBank Vision Fund 2. It also follows news that TIER has won the hugely competitive London e-scooter tender, 
after enjoying similar success in the highly-prized Paris and Dubai bids. 
As well as helping to extend TIER's international coverage across strategic growth markets and enabling investment in a 
multi-modal fleet of electric scooters, bicycles and mopeds, the new capital will drive expansion of the TIER Energy 
Network. With this unique innovation, battery charging stations will be installed in retail stores across Europe and 
the Middle East to power electric vehicles in a way that drives operational efficiency whilst giving the high street a 
financial boost and enabling users to enjoy free trips. 
Ben Payne, Managing Director at Goldman Sachs, commented: "Even amid a global pandemic, TIER has established a proven 
track record of profitable unit economics and asset longevity. We are excited to help the European leader extend 
sustainable mobility to more people across the world." 
Alex Gayer, Chief Financial Officer at TIER, added: "The size of this highly scalable asset-backed debt facility is a 
game-changing first in micro-mobility, accelerating our expansion and cementing our market leadership in Europe. This 
facility leverages our recent equity raise and will enhance our capital-efficient growth." 
 
About TIER Mobility 
TIER Mobility is Europe's leading shared micro-mobility provider, with a mission to Change Mobility for Good. By 
providing people with a range of shared, light electric vehicles, from e-scooters to e-bikes and e-mopeds, powered by a 
proprietary Energy Network, TIER helps cities reduce their dependence on cars. Founded in 2018 by Lawrence Leuschner, 
Matthias Laug and Julian Blessin, TIER is headquartered in Berlin and currently operates in 100+ cities across 12 
countries in Europe and the Middle East. With a focus on providing the safest, most equitable and most sustainable 
mobility solution, TIER has been climate neutral since 2020. 
TIER's investors include SoftBank Vision Fund 2, Mubadala Capital, Northzone, Goodwater Capital and White Star Capital. 
For more information, visit www.tier.app. 
Media Contact 
Florian Anders 
Public Relations 
press@tier.app 
Investors Relations 
Michael Tamburrini 
VP Corporate Strategy & Development 
michael.tamburrini@tier.app 
=---------------------------------------------------------------------------------------------------------------------- 
2021-06-02 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. 
The issuer is solely responsible for the content of this announcement. 
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. 
Archive at www.dgap.de 
=---------------------------------------------------------------------------------------------------------------------- 

1203335 2021-06-02

 
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https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1203335&application_name=news 
 

(END) Dow Jones Newswires

June 02, 2021 02:02 ET (06:02 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.42% 34935.47 Delayed Quote.14.63%
SOFTBANK GROUP CORP. -2.61% 6837 End-of-day quote.-15.15%
THE GOLDMAN SACHS GROUP, INC. -0.71% 374.88 Delayed Quote.42.16%
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