Rightcharge lands £500K to take fleet EV charging payments across Europe
What's the deal? UK startup RightchargeDealroom has a profile for this one. Try Dealroom → has raised £500,000 ($674,564) in a growth equity round to expand across Europe and build out its platform for managing fleet EV charging payments. Existing investor Soulmates VenturesDealroom has a profile for this one. Try Dealroom → led the round, with BlackWood VenturesDealroom has a profile for this one. Try Dealroom → and Purple VenturesDealroom has a profile for this one. Try Dealroom → participating.
What's the endgame? Rightcharge combines home and public EV charging payments into a single system for fleet operators. It automatically reimburses drivers for electricity used to charge company vehicles at home through their energy bills, while giving fleet managers visibility into charging costs and emissions.
Why now? As corporate fleets electrify, managing charging has grown messy. Public charging remains fragmented across networks, and home reimbursement often relies on manual processes for drivers and fleet operators alike.
By the numbers: Rightcharge says fleets using its platform can cut charging costs by up to 90% and carbon emissions by around 30%. Over the past year, the company grew annual recurring revenue more than twentyfold and now has over 200 direct fleet customers. It has also signed its first five deals to license its home reimbursement technology to fleet suppliers.
"The response from customers over the past year has confirmed we're solving a huge problem for fleets," said founder and chief executive officer Charlie Cook. He added that the company has surpassed "our most ambitious growth projections" since its seed round.
The money will go towards customer acquisition, strategic partnerships, and further platform development as Rightcharge prepares for a future Series A round.
The signal: As Europe pushes fleet electrification, the friction sits less in the vehicles than in the payments and admin behind them. Rightcharge is betting that whoever untangles that back-office mess captures a growing corporate market.
Read more: Tech.eu
Image credit: OregonDOT
