Rightcharge secures £1.6m in seed funding
The funding round was led by Soulmates Ventures, and included the likes of Blackwood Ventures, UnrulyCapital and Purple Ventures. The seed funding will be used to grow the startup’s presence across Europe, along with a partnership with Octopus Electroverse (although no details of this partnership have yet been provided). The startup plans to focus on expanding into Germany, France, the Netherlands, Belgium, Norway and Ireland.
In a press release published by Tech EU, Rightcharge explained its approach: “Existing payment systems, built for conventional fuel expenses, are not set up to handle EV home charging… Consequently, some companies rely more on public charging, which can be up to ten times more expensive than charging at home. These gaps in process and infrastructure are delaying fleet electrification at a time when adoption needs to accelerate. Rightcharge removes this barrier by automating reimbursements for home charging.”
In essence, Rightcharge’s platform links an EV driver’s home energy account to fleet management systems, enabling payments to be reimbursed directly to their energy bill rather than their bank account. This is done through a monthly payment to drivers. Rightcharge says this method can maintain price accuracy even as bills change while providing a clear audit trail for tax purposes, and adds that fleet vehicles can be connected as well.
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