Rightcharge raises £500K to support European expansion
Rightcharge, the UK startup that simplifies fleet EV charging payments, has raised a £500,000 growth funding round from existing investors, with Soulmates Ventures leading the round alongside BlackWood Ventures and Purple Ventures. The investment follows a year of strong commercial momentum, during which the company achieved more than 20x ARR growth, expanded to over 200 direct fleet customers, and closed its first five deals to license its home reimbursement technology to major fleet suppliers. The funding will support the next stage of growth as Rightcharge continues to expand across Europe following its launch in France and Germany.
Fleet electrification is accelerating, with battery electric vehicles offering 20–50% lower operating costs and the transition projected to unlock up to €246 billion in operating cost savings by 2030. Large companies across Europe are also preparing for proposed EU rules that would require 45% of new fleet vehicles to be battery electric by 2030. Yet managing EV charging at scale remains a challenge. Public charging is fragmented, while reimbursing drivers for charging at home is often manual, error-prone and time-consuming for fleet operators. Rightcharge solves this through a unified platform that brings home and public charging into a single system, automatically reimbursing drivers through their energy bills while giving fleet managers a clear view of charging costs and emissions. Fleets using Rightcharge cut charging costs by up to 90%, reduce carbon emissions by around 30%, and significantly reduce administration burden.
Charlie Cook, Founder and CEO of Rightcharge, said: “The response from customers over the past year has confirmed we’re solving a huge problem for fleets. We’re directly supporting over 200 fleet customers in the UK and have maintained exceptionally high retention, with over 99% of customers remaining on the platform after two years. Existing customers also continue to expand their use of the platform, driving revenue growth of approximately 165% within our existing customer base. 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.”
Growing demand for Rightcharge’s technology has led to partnerships with leading energy, mobility and fleet providers looking to enhance their own EV charging offerings. Alongside Octopus Electroverse, the company 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.
The company has also begun expanding beyond the UK. Through its partnership with Octopus Electroverse, Rightcharge has started operating in France and Germany, with initial fleet deployments and local partner relationships already in place across two of Europe’s largest EV fleet markets. As another milestone, the company was recently certified by Visa as a home charging reimbursement partner in Europe, validating its platform against Visa’s standards for functionality, integration and security.
Michal Sikyta, Managing Partner at Soulmates Ventures, said: “Since our initial investment, Rightcharge has confirmed our conviction in the team, the product and the market opportunity. They have delivered rapid growth, maintained strong customer retention and secured partnerships with major players across the energy and mobility industries. As fleet electrification accelerates across Europe and other regions, we believe Rightcharge is well positioned to become a leading platform for EV charging payments and reimbursements.”
The new funding will support Rightcharge’s next phase of growth, helping the company scale customer acquisition, deepen strategic partnerships and continue developing its platform as demand for EV charging payments grows. The investment will also help prepare the company for a future Series A as it continues to expand across Europe.
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