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Nextbike has been sold by Tier Mobility and will continue to operate as an independent provider.
The Leipzig-based shared mobility platform has been purchased by STAR Capital Partnership LLP, a private equity firm which has been investing in European infrastructure and public services for more than 25 years.
This announcement comes two months after Tier confirmed its merger with Dott.
“In recent years, we have proven to be particularly resilient and innovative. Nextbike, together with its municipal partners, has not only established bike sharing as an integral component of local public transport but has also developed a stable and economically sustainable business model with this format, said Simon Stephan, a representative of the Nextbike management:
“Long-term reliability is key when it comes to public infrastructure and services. With STAR Capital, we now have an experienced and established partner behind us to continue Nextbike’s success story for the next 20 years.”
Nextbike was acquired by Tier in November 2021, a relationship which did see success. In 2023, Nextbike generated €59.3 million in revenue and its fleet of more than 115,000 bikes were used roughly 45 million times across 20 countries.
The new era of Nextbike is set to begin in May, when the transaction is set to complete.
A newly named entity of Nextbike GmbH will continue to focus entirely on its core business – the development and integration of custom bike sharing solutions for public transportation infrastructures of cities and municipalities throughout Europe.
Following the positive development trend for multimodal mobility services in recent years, the market leader is aiming for further growth.
The foundation for this is the in-house development of innovative system solutions optimised for public rental, consisting of various types of bikes and stations, a customer app, customer service, as well as the continuous operation of the system.
In addition, a comprehensive rebranding will round off the new brand image.
Philipp Gensch of STAR Capital, added: “Nextbike is driven by innovation like a start-up and at the same time offers the reliability of an established industry leader.
“The focus is always on the requirements of the partner cities and customer benefits. We are impressed by what the Nextbike team has achieved over the years and see great potential for organic growth and look forward to future developments.”
