European mico-mobility company Tier has raised $200 million in Series D funding.
The investment in the company, which it says is part of a "broader equity and debt raise" was led by existing investors SoftBank Vision Fund 2 and Mubadala Capital with new partners including M&G Investments and Mountain Partners also involved.
Germany-based Tier has now raised a total of $660 million at a valuation of $2 billion.
It says the investment gives it the resources to "fulfil its mission to Change Mobility For Good by providing the safest, most equitable and sustainable mobility solution in the market."
The company adds that it plans to use the funds for acquisitions and strategic investments as well as expanding its fleet.
Tier launched in 2018 and currently has 135,000 e-scooters, e-bikes and e-mopeds across 150 cities in 16 countries.
Niranjan Sirdeshpande, director for M&G’s catalyst investment team, says: "Tier has shown strong growth over the past three years, expanding its multi-modal product offering, building important industry partnerships, and winning highly-prized tenders.
"We are excited and deeply encouraged by Tier's outstanding leadership in environmental, social and governance (ESG) performance, helping Tier build on their position as the number one micro-mobility company in Europe and accelerate their success in this competitive industry."
Tier raised a $60 million debt facility from Goldman Sachs back in June calling it a vote of confidence in its business.