European micromobility leader Dott has taken a major step forward in its growth journey, securing €70 million in senior secured floating rate bonds in the Nordic market within a €150 million framework. Alongside this, the company is raising a minimum of €15 million in preferred equity through an extension of its Series D round. The fresh funds will be used for new e-bikes and e-scooters, debt refinancing, and general corporate purposes.
The company plans to channel the proceeds into expanding its next-generation fleet across key European markets. Dott’s upgraded vehicles will deliver greater comfort, longer range, and improved affordability, aligning with the growing demand for greener urban transport.
The investment also comes as Dott records 10% year-on-year growth in rides per rider and a surge in subscription-based usage; half of all rides now use passes. This reflects rising customer loyalty and the increasing integration of shared mobility into daily commuting habits.
Strong momentum after the Tier merger
Dott was founded in 2018 by two former executives of Chinese bike startup Ofo – Maxim Romain and Henri Moissinac. Following its 2024 merger with Tier, Dott has become one of the largest micromobility operators in EMEA, active in over 400 cities across 21 countries. The integration has resulted in €60 million in annual cost savings and driven the company to adjusted EBITDA profitability.
With the next rollout of new vehicles planned for 2026, starting with its upgraded Dott e-bike launched in Paris, the company aims to further strengthen unit economics. The new fleet will reduce maintenance needs, extend vehicle lifetimes, and enhance the overall user experience, a combination that positions Dott well in Europe’s increasingly competitive micromobility market.
Nordic market confidence in Dott’s growth strategy
The Nordic Bonds come with a four-year tenor and carry a floating interest rate of 3-month EURIBOR plus 800 basis points. Dott plans to list the bonds on Nasdaq Stockholm, signaling investor confidence in its long-term strategy and operational strength.
Financial advisors and partners played a key role in structuring the deal: ABG Sundal Collier acted as Sole Bookrunner, with White & Case serving as legal counsel to Dott and Schjødt representing the Bookrunner.
With profitability achieved and growth capital secured, Dott is moving at full speed, balancing financial discipline with innovation to redefine urban mobility across Europe.
Henri Moissinac, CEO and Co-Founder of Dott, commented: “Seven years after we created Dott, this successful and oversubscribed bond issuance demonstrates the strong support from investors for our mission and our strategy. 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.”
Raoul Gatzen, Group CFO of Dott, added: “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. This issuance further strengthens our balance sheet, extends our debt maturity profile, and supports our FY2026 profitable growth plans as we renew our fleet across key European cities within our existing footprint.”
