SoftBank piles cash into European scooter firm Tier in $250 million fundraise - Business Insider

SoftBank has made its first standalone investment into a dedicated scooter startup, leading a $250 million round into Germany's Tier.

"This round brings us into pole position within the micro-mobility industry globally," Tier CEO and cofounder Lawrence Leuschner told Business Insider in an interview. "It's always been harder for European companies to compete with the Americans but now we have the capital do that sustainably." Founded in 2018, Tier allows users to rent its electric scooters through an app. It competes with well-funded US firms such as Bird and Lime, as well as smaller local rivals such as Wind and Voi.

The cash injection also comes as scooter firms head into a tough winter, with the coronavirus putting summer tourism on hold. However, startups see an opportunity in changing transport habits as people avoid crowded buses and metros and favour individual modes of transport, such as scooters.SoftBank's cash injection, from its yet-to-close Vision Fund 2, marks the Japanese giant's tendency to back firms whose interests overlap.

Cool

/ x X’s

Shorting it immediately. Because SoftBank.

90% of news about covid and trump

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Inside Schonfeld's pitch for its $2.2 billion fundamental equity fund - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Inside the NCAA's rules for student-athletes monetizing their brand - Business InsiderNCAA student-athletes are months away from being able to profit off their brand. Here are all the ways businesses, agents, and advertisers can — and can't — work with them. thank you very much for your work
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

What it's like inside a Venezuela hospital with no running water or medicine - Business InsiderWe went inside a public hospital in Venezuela where there's no running water and cancer patients have to provide their own medicine US Sanctions do that! StopTheCruelty
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Inside the Amex virtual mentorship program helping low-income students - Business InsiderBusiness Insider tells the global tech, finance, markets, media, healthcare, and strategy stories you want to know. Great initiative!!!
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Inside high-end custom pianos with Steinway & Sons CEO, Lenny Kravitz - Business InsiderInside the highest end of high-end pianos, with classic brand Steinway & Sons and its newest collaborator, Lenny Kravitz wow
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »

Webinar: Inside private-equity recruiting at Carlyle, Apollo, Bain - Business InsiderJoin us on Thursday, December 3, at 1 p.m. ET, as Business Insider's Wall Street reporter reedalexander moderates a panel featuring four experienced recruiters from top private-equity firms. They'll share tips on how to make it in the industry and more.
Fuente: BusinessInsider - 🏆 729. / 51 Leer más »