It’s been a wild year for Rightcharge. The UK startup that simplifies fleet EV charging payments has seen nothing less than 20x ARR growth while expanding to over 200 direct fleet customers and closing the first five deals to license its home reimbursement technology to major fleet suppliers. After its launch to France and Germany, Rightcharge is gearing up for scaling across Europe. And that’s where the £500K follow-on round we led alongside BlackWood Ventures and Purple Ventures comes in handy.
99% customer retention, but in a fragmented market
It hasn’t even been a year since we led the £1.6M investment round in Rightcharge – but the future of European fleet electrification is already looking a lot different. Previously, fleet operators struggled with fragmented public charging and messy reimbursements for charging at home. Coupled with EU’s newly proposed rules that would require 45% of new fleet vehicles to be battery electric by 2030, large companies across Europe are facing quite a question: how to manage EV charging at scale?
The numbers – a 99% customer retention rate and revenue growth of approximately 165% within the existing customer base – now confirm what we already knew last year: Rightcharge is perfectly equipped to seize this opportunity. Its platform unifies charging, reimbursing, and cost monitoring into one seamless system; a one-stop-shop for large company fleets. With this solution, they can now cut charging costs by up to 90%, reduce carbon emissions by around 30%, and last but not least, significantly reduce the painful administrative burden.
“Having surpassed our most ambitious growth projections since our seed round, this funding will help us expand the service across Europe by giving more fleet suppliers access to our Rightcharge home reimbursement platform, and continue to improve the product,” adds the CEO and Founder of Rightcharge, Charlie Cook.
“Having surpassed our most ambitious growth projections since our seed round, this funding will help us expand the service across Europe.”
Charlie Cook, CEO and Founder of Rightcharge
Why we’re investing, again
Since the first £1.6M investment round we led at the end of 2025, Rightcharge has confirmed not only our conviction in the product and the market opportunity, but also our in-depth evaluation of the team. While they delivered rapid growth, incredible customer retention and closed a number of major partnerships in the mobility industry, it’s the scaling strategy that solidifies our conviction in Rightcharge’s trajectory.
“As fleet electrification accelerates across Europe and other regions, we believe Rightcharge is now in a great position to become the European leader in EV charging payments and reimbursements. With this second investment, we are supporting the company’s next growth phase, its European expansion, and its preparation for Series A funding,” comments Michal Sikyta, our Managing Partner.
And the expansion is already underway.
“With this second investment, we are supporting the company’s next growth phase, its European expansion, and its preparation for Series A funding.”
Michal Sikyta, Managing Partner, Soulmates Ventures
The road to Europe – and Series A
Alongside Octopus Electroverse, the startup already works with The Right Fuel Card (an Edenred company) and Fuuse, and recently partnered with POD, the UK EV charging provider owned by the French energy group EDF, to power automated reimbursements within its Home Fleet solution. Through its partnership with Octopus Electroverse, Rightcharge has also started operating in France and Germany – two of Europe’s largest EV fleet markets – with initial fleet deployments and local partner relationships already in place.
We see the new funding as an important step to help prepare Rightcharge for a future Series A as they continue expanding across Europe. It’s an exciting time to be on board and we’re immensely proud to back a team so dedicated to operational excellence and systematic growth. Big congratulations, Rightcharge. Onwards and upwards.
