European electric two-wheeler companies TIER and Dott merged early last year to expand sustainable transport via shared e-bikes and scooters.
The Amsterdam-based company, now under the brand name Dott, is tapping into public debt markets, raising €70 million ($81.4 million) through senior secured Nordic bonds, part of a larger €150 million effort. The four-year bonds will support the purchase of new e-bikes and e-scooters and the refinancing of existing debt.
Dott is also seeking €15 million to extend its Series D round.
Investor confidence
Mubadala Capital and Sofina led the €60 million investment last year to support the merger. At that time Dott said the merged companies generated €250 million in revenues and facilitated over 125 million trips a year across 21 countries in Europe and the Middle East including Belgium, Germany, Israel, Saudi Arabia, Qatar and the United Kingdom.
The company says it has seen a 10% increase in rides per rider between 2024 and 2025, and it will use fresh funding to expand its fleet.
“The issuance further strengthens our balance sheet and extends our debt maturity profile,” said Dott’s Raoul Gatzen.
Sustainability lens
Two and three-wheelers are the most electrified means of road transport. The International Energy Agency expects 210 million of these vehicles on the road by 2030, up from 65 million in 2024.
Dott joins Swedish micromobility company Voi, which secured €50 million last year and another €40 Million this year through bond issuances to expand its e-scooter fleet. French company Valeo, which produces hardware and software for both conventional and electric vehicles, raised €500 million for an oversubscribed bond to support its portfolio of low-carbon mobility projects. Dutch company Fastned, which operates electric vehicle charging stations in over 350 locations across Europe also raised €36.5 million from a bond issuance earlier this year.
