Softbank’s Vision Fund 2 leads $250-million investment in e-scooter firm Tier Mobility

SoftBank Group Corp’s Vision Fund 2 has led a $250 million investment in Berlin-based e-scooter company Tier Mobility, the German firm said on Tuesday.

Existing investors, including Mubadala Investment Company’s financial investment arm Mubadala Capital, Northzone, Goodwater Capital, White Star Capital, Novator and RTP Global, participated in the Series C funding round, the company said.

Including the fresh funding amount, Tier Mobility is now valued just below $1 billion, as per a Financial Times report that cited people briefed on the terms.

The funding allows Tier Mobility to overtake Lime to be the second-most valuable e-scooter company after Bird, the newspaper said.