Rightcharge, a home electric vehicle (EV) charging payment platform for fleets, has raised £1.6m in a seed round.
The platform automates reimbursements for home charging, linking to the driver’s energy account and consolidating fleet charging bills into a single monthly payment.
It ensures accurate reimbursements, even with variable energy tariffs.
An accompanying public charge card can be provided to drivers, giving them access to 70% of the UK’s public charging network.
Rightcharge said that its platform helps fleets reduce charging costs by up to 90% and carbon emissions by 30%, all while reducing the admin burden on fleet managers and giving drivers confidence that they will be reimbursed fairly.
A clear audit trail is created for tax compliance and Rightcharge said it reduces the risk of fraud.
Rightcharge has partnered with Octopus Electroverse to white label the platform in a number of European countries.
Charlie Cook (pictured, right), founder and CEO at Rightcharge, said: “We’re building the payments infrastructure that will make EV charging effortless for fleets.
“The home is the quiet giant of electrification. Over 70% of charging already happens there.
“Accurate, automated payments give businesses confidence to electrify faster, while cutting costs and carbon.
“Thanks to our investors and our partnership with Octopus, we’re now bringing that capability to fleets across Europe.”
UK fleets such as the AA already use the platform.
The seed round was led by Soulmates Ventures, joined by Blackwood Ventures, Unruly Capital and Purple Ventures.
Hynek Sochor, founder and managing partner at Soulmates Ventures, added: “Rightcharge has scaled at impressive speed, combining rapid growth with virtually zero churn and a product that removes a key barrier to electrification.
“For fleets, the savings are so significant that adoption becomes an obvious choice. Europe offers a vast opportunity.
“In Germany alone, 80% of new high-end cars are company vehicles.
“Rightcharge is uniquely positioned to become the backbone for European fleets – all this while also delivering clear benefits for the planet.”
