How European e-Scooter Rental Company Tier Received $40Mn Funding? Key Features and Solutions that Helped the Company Stand Out + How to Make an App Like Tier + Create an App like Tier + Apps Like Tier + Develop Alternative of Tier

The Berlin based e-scooter rental company Tier received another $40Mn funding, thus extending the total amount received from series B funding to $100Mn. The additional amount received by the company is a good mix of debt and equity funding.

The company is all set to add new micro-mobility facilities to their company and increase its efficiency using the new funding amount.

Some facts you need to know about Tier

 

  • Tier was realized with the aim to solve most of the mobility issues facing the people in a sustainable manner. They are climate neutral, which makes them the first in this segment.
  • The company is also focused on resolving issues such as overpriced short rides and will help improve commuting facility for the short distance.
  • Tier will help people overcome traffic, reach their destination on-time, and help build a stronger community that can fight pollution and dirty environment.
  • Currently operational in 55 cities across 11 countries, the company is growing strong with its single goal and defining mission.
  • The company had earlier bagged a good $60Mn funding in Series B, after having received a good response in the Series A funding round.
  • The company is all set to use all the funds made available through the funding in R&D that can increase the company’s efficiency and increase the fleet of vehicles.
  • They are also going to work on newer product strategies.

Currently Tier is ranking number one on Apple stores across the different European countries.

They are not the only e-scooter rental apps that are working in this segment. In fact, newer players are entering this segment with the single aim to increase competition and improve the quality of services.

The electric scooter sharing market for U.S. and Europe was $704Mn in 2019 and is estimated to grow at a CAGR of 25% till 2024

The main drivers for e-scooter rental in European markets can be attributed to the following:

  • Concerns over gas emissions and rising pollution
  • Major traffic woes in the cities
  • Stringent emission rules which are causing major issues

With these constraints and strict rules, there is a certain opportunity made available to the e-scooter rental companies like Tier.

If you are planning on developing an app like Tier for your business, then there are quite a few things that you might need to consider.

Let’s talk about the features to start with.

Must-have App Features

 

When it comes to an e-scooter rental app like Tier, the features should be precise, clear and defined. 

  • Easy Login: The first step to creating your presence on the app, and to be able to use the app effectively is the login screen. The social signup as well as easy registration process will help on-boarding smooth and easy. Keep the login screen as intuitive and friendly as possible.
  • Means to Verify the ID: It is important that the people using the dock-less scooters have the eligibility that you have defined. as part of the process, make sure you have introduced the feature that will make verifying the ID easy. You should have an in-app scanner or other means to make the validation perfect.
  • Effective QR Code Scanning: How can you allow the users to unlock or lock the particular e-scooter they have hired, once their ride begins or ends? The QR code scanning will allow the user to unlock the scooter, and use it. once the ride is booked, then they can go to the nearest location and get the scooter.
  • Renting the Scooter: The user should be able to find the e-scooter that is located nearby and easily accessible using the app. Finding and renting the scooter for the commute should be made easy and effective.
  • GPS Tracking: The in-app maps should efficiently track the scooter in the nearest location, and should take the user to the particular location. the user need not move out of the app to check for directions.
  • In-app Payments: The app should offer all payment methods, right from cash to card and net-banking as well as wallets. This will increase the convenience of payments along with the convenience of hiring a scooter.
  • Statistics: The user should be able to see the total times and other historical details of their ride using the app. They should also be able to see the amount spent on the rides in the app.
  • Alerts: The user should be notified of all the changes in the app along with new offering, discounts etc. this will help motivate the user to use the app often.

 

How Tier Differentiated Itself?

 

How to Make an e scooter App Like Tier, Develop Alternative app of Tier, Tier alternative app features to consider

 

As a new player in the e-scooter rental market, there are quite a few things that you ought to look for. In case of Tier, in order to get a competitive edge, the company decided to follow these three aspects.

#1 A Solution-centric Idea

 

Before entering the European markets with a novel idea like e-scooter rental, they decided to survey the market and identify the lag. They soon found out that short distance commute was essentially causing a pain for the people, and they were finding the solutions available either unsustainable or too expensive. They decided to come up with an idea that would help the users move around short distances without consuming a lot of gas, stay rooted to the gas regulations and not spend too much of their money.

If you are planning to define a business idea, look for solutions that can help the target market. Even if your idea is quite similar to that of the competition, identify the one point of difference, which could be the app interface or just the reach you have, and introduce it as your positioning. This will help you win more customers.

#2 Provide Value to the Customers

 

In a market ruled by strong players, it takes an impressive setting and a single value proposition to grow and build your reach.

You have already identified the problems faced by the customers and identified the solution. now it is time to take some time off the solution, and find how you can provide value to the customers. The value proposition could be as simple as giving them a place to store their helmets or keeping their things safe or as useful as offering them a monthly pass or other subscription systems. This will make their commute easy and efficient. You will need to work on the value proposition after consulting the team and the target market, and knowing what value proposition is feasible for your business.

How Coruscate Can Bring the Difference?

 

When it comes to technology induced business, it is important to relay your technology needs on a strong partner. Collaborating with Coruscate will bring in the difference with greater agility than you had planned.

The question churning in your mind is why Coruscate as the technology partner?

  • We have answered over 2000 e-scooter rental app queries and have successfully collaborated with companies to deliver able solutions.
  • We don’t just offer solutions based on our understanding the market or the competition. We take into account your business requirements, the current situation, what you aim to do with a new business idea, and how scalable the solution is. With a complete analysis and requirement clarity, we build your solution.
  • We even work on e-scooter rental app solutions from the scratch. In this case, we validate the idea you have presented, and identify the possible solution that can give you the desired edge.

We have already defined the budget for developing an e-scooter rental app. Please note that this amount is subject to change based on the business idea, requirements and solution aspects. We have just defined a very rough budget, one that can give you a clear idea into our processes and timelines. 

  • Our custom e-scooter app development costs somewhere around $15000 to $25000. This includes the cost to develop custom features and all aspects related to the app development.
  • In case you want to develop Tier clone app solution, then the app development cost starts at $10000
  • We also offer subscription plan for all the white label e-bike app solutions which starts at $500.

 

Summing Up

 

It is known that the new electric scooters and transport will revolutionize the automobile segment, and offer new transportation methods. If you are venturing into this business, it is still in the nascent and growing phase, and you will find more opportunities to devise your app for this segment.

A basic chart for P2P payments app development cost is as follows:

It is important that you consider all the available options before you move into this segment.

As we have already discussed, along with a good idea, partnering with Coruscate will give you the edge and will help you warranty success into the idea.

Are you ready to roll into your new business idea with Coruscate?

Note : We do not make clones of any exact application, clone means to us is how better we can execute your app idea with existing app features and experience.

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