The Series B round was co-led by Energize Capital and GreenPoint Partners, alongside Denmark’s state-backed Export and Investment Fund. The round also saw contributions from existing investors such as Headline, byFounders, AENU, and Creandum, as well as a new investor, Quantum Light.

Monta is playing a crucial role in the transition to electric mobility, offering an EV charging platform that caters to the needs of hardware manufacturers, operators, businesses, and EV drivers through a single, integrated software solution.

Since its inception in 2020, Monta has established itself as a central hub for the efficient deployment, usage, and management of EV charging infrastructure, particularly for businesses and operators. The platform aids hardware manufacturers in refining their products by providing them with the ability to compare charge point brands, insights into usage and performance, and tools to expedite troubleshooting and maintenance.

Furthermore, Monta’s software extends significant benefits to EV drivers, granting them access to over 600,000 charge points across Europe. This widespread accessibility not only enhances the convenience for EV users but also contributes significantly to the broader adoption of electric vehicles, aligning with global efforts to reduce carbon emissions and foster sustainable transportation solutions.

“EVs and charging infrastructure are a cornerstone of the global shift towards decentralised electrification, and Monta’s software platform is the backbone enabling this critical transition in energy and mobility,” said Casper Rasmussen, CEO and founder of Monta. “Our differentiator is that we take on the entire value chain of the EV charging market – from the grid to hardware to business and drivers – with a tool that streamlines and simplifies charging operations for all participants, bridging the gap between energy providers and end users. With one million monthly charging sessions and 130,000 charge points on the Monta platform, our growth is a testament to this market nearing an inflection point, and we’re thrilled for the support from Energize and all our investors to help us further our mission of democratising mobility electrification.”

In 2023, Monta increased its annual recurring revenue by 600%, opened two new markets including new offices in Paris and Barcelona, and nearly doubled its employee headcount. This growth has been supported by the addition of several new strategic partners including Siemens, EGG, Rolec and Uno-X, which rely on Monta’s platform to manage their fleets, home and work charging needs in addition to leveraging the company’s extensive roaming network of more than 600,000 charge points. Combined with hitting targets 14 months in a row, investors have been keen to empower Monta to continue its momentum.

“The market for electric vehicle charge points continues to expand on an impressive trajectory – over 40% annual growth – and is demanding a modern solution to manage the increasing volume and complexity of touchpoints between electric vehicles and charging infrastructure,” said Juan Muldoon, partner at Energize Capital and a member of Monta’s board of directors. “With a business model that touches participants across the EV ecosystem to connect the dots and enable scale, Monta is that solution. The company has solidified leadership in this market with an exciting magnitude of growth – our research indicates Monta is the fastest-growing startup at its scale in the EV space. We are thrilled to double down on our investment in Monta and continue partnering with their team to accelerate the transition to electric mobility.”

Monta will leverage this investment to double down on its successful ecosystem strategy by strengthening investments in product R&D, expanding its partner network across all markets and together with the industry creating a sustainable charging infrastructure to give operators and EV drivers more control over their energy consumption. Monta’s extensive partner network will continue to play a crucial role in accelerating the mobility sector’s sustainability transformation and building the infrastructure for a decentralised electrification system.