European micromobility operator Dott has raised €85m to acquire more e-bikes and e-scooters, refinance existing debt, and for general corporate purposes.

The company has seen a ten per cent increase in rides per rider this year over last. The funding will enable Dott to invest in a more e-bikes and e-scooters and accelerate this growth. The new vehicles will provide more comfort, extended range, higher availability and affordability.

Since the merger of Tier and Dott in 2024 (www.iotm2mcouncil.org/iot-library/news/connected-transportation-news/dott-drops-tier-name-following-merger/), the company has integrated operations to create one of the leading micromobility players in Emea with operations in more than 400 cities and 21 countries, and delivered over €60m in annual cost savings. Operational performance is set to improve with the planned deployment of the new vehicles in 2026. This initiative, which began with the launch of the latest Dott e-bike in Paris, should provide an improved user experience, reduced maintenance costs and extended vehicle lifetimes.

“Seven years after we created Dott, this successful and oversubscribed bond issuance demonstrates the strong support from investors for our mission and our strategy,” said Henri Moissinac, CEO of Dott. “Since the merger of Tier and Dott, we have delivered on our commitment to achieve EBITDA profitability and to build a resilient, sustainable business. This new financing allows us to continue investing in cleaner, safer vehicles and to further advance our mission to change mobility for good.”

The raise comprised €70m of senior secured floating rate bonds issued in the Nordic market, within a total framework of €150m, and concurrently a minimum of €15min preferred equity as an extension of its existing series D fundraising round.

The Nordic Bonds have a four-year tenor and carry a floating interest rate of three-month Euribor plus 800 basis points. Dott will apply for admission to trading of the bonds on Nasdaq Stockholm.

“We are very satisfied with the strong reception from the Nordic bond market and the continued support of our shareholders, reflecting confidence in our solid post-merger operational performance and disciplined financial management,” said Raoul Gatzen, group CFO of Dott. “This issuance further strengthens our balance sheet, extends our debt maturity profile, and supports our 2026 profitable growth plans as we renew our fleet across key European cities within our existing footprint.”

With more than 250,000 shared vehicles in more than 400 cities across 21 countries in Europe and the Middle East, Dott (www.ridedott.com) has ten million users who have taken more than 400 million rides so far.