London EV Charging Platform Lands Major Seed Investment
Rightcharge, the innovative London-based electric vehicle charging payment platform, has successfully raised €1.8 million in seed funding to accelerate its European expansion. The investment round was spearheaded by Soulmates Ventures, with significant participation from Blackwood Ventures, Unruly Capital and Purple Ventures, signaling strong investor confidence in the company‘s unique approach to solving fleet electrification challenges.
Table of Contents
Explosive Growth and Strategic Expansion
The funding announcement comes as Rightcharge reports remarkable traction in the market, achieving over 10x annual recurring revenue growth in 2025. The company has already established itself as a trusted partner for major UK fleets, including the renowned Automobile Association (AA).
The strategic partnership with Octopus Electroverse represents a crucial component of Rightcharge’s European expansion strategy. Through this collaboration, Rightcharge’s home charging payment solution will be white-labeled and deployed across multiple European markets, beginning with Germany, France, the Netherlands, Belgium, Norway and Ireland.
Solving the Fleet Electrification Dilemma
While businesses account for more than half of all EV purchases in the UK, the transition to electric fleets has been hampered by significant operational challenges. “The home charging reimbursement problem has been a major bottleneck for fleet electrification,” explains industry analyst Maria Rodriguez. “Traditional expense systems simply weren’t designed for the complexities of EV energy management.”, as related article
Current fleet management practices often rely on manual reporting through spreadsheets, leading to numerous operational inefficiencies. These outdated methods frequently result in calculation errors, payment delays, and vulnerability to fraud. Consequently, many fleets default to public charging networks, despite costs that can be up to ten times higher than home charging rates., according to additional coverage
Innovative Technology Platform
Rightcharge’s breakthrough solution automates the entire home charging reimbursement process through direct integration with drivers’ energy accounts. The platform’s unique approach ensures payments are credited directly to energy bills rather than bank accounts, maintaining accuracy even when energy tariffs fluctuate., according to recent studies
The system incorporates several sophisticated features:, according to market insights
- AI-driven validation to detect anomalies and guarantee payment accuracy
- Comprehensive public charging access through integrated charge cards
- Consolidated monthly billing compliant with HMRC requirements
- Automated audit trails for tax compliance and financial transparency
Transformative Business Impact
Early adopters are reporting substantial benefits across multiple dimensions. Fleet operators using Rightcharge have achieved:
- Up to 90% reduction in charging costs compared to public charging networks
- Approximately 30% decrease in carbon emissions
- Significant reduction in administrative workload
- Enhanced renewable energy utilization
The Automobile Association has documented particularly impressive results, reporting annual savings exceeding £1,000 per vehicle while achieving 64% renewable energy usage through the platform.
Leadership Vision and Market Opportunity
Charlie Cook, Founder and CEO of Rightcharge, emphasizes the strategic importance of their mission: “We’re building the payments infrastructure that will make EV charging effortless for fleets. The home is the quiet giant of electrification, with over 70% of charging already happening there. Accurate, automated payments give businesses confidence to electrify faster while cutting costs and carbon.”
Hynek Sochor, Founder and Managing Partner at Soulmates Ventures, highlighted the compelling market dynamics: “Rightcharge has scaled at an impressive speed, combining rapid growth with virtually zero churn. In Germany alone, 80% of new high-end cars are company vehicles. Rightcharge is uniquely positioned to become the backbone for European fleets.”
European Expansion and Future Outlook
Through the partnership with Octopus Electroverse, Rightcharge is actively localizing its technology for diverse European markets. The company estimates that by 2035, over 100 million drivers worldwide will require reimbursement solutions for home-charged work vehicles, with Rightcharge targeting at least 10 million of these users.
The platform’s current customer base spans multiple sectors including construction, healthcare and government, demonstrating the universal applicability of their solution across different fleet types and operational requirements.
As European businesses accelerate their transition to electric fleets, Rightcharge’s automated payment infrastructure addresses a critical gap in the electrification ecosystem. The combination of substantial cost savings, reduced administrative burden, and environmental benefits positions the company as a key enabler in the continent’s clean transportation transformation.
For more information about Rightcharge’s innovative approach to fleet EV charging management, visit their official website.
Related Articles You May Find Interesting
- South Africa’s Wind Energy Expansion Stalled by National Grid Constraints
- SAP’s AI-Driven Surge: How Europe’s Tech Giant Is Locking In Future Revenue Amid
- Beyond Hollywood Hype: How Wonder Studios is Engineering a New Model for AI-Powe
- Deceptive Design Tactics Draw Scrutiny as Businesses Grapple with Ethical UX Pra
- ChatGPT’s Atlas Browser Outpaces Google’s Gemini in Chrome Integration, Reports
References
This article aggregates information from publicly available sources. All trademarks and copyrights belong to their respective owners.
Note: Featured image is for illustrative purposes only and does not represent any specific product, service, or entity mentioned in this article.
