Rightcharge has secured £500,000 in growth funding to accelerate its European expansion and strengthen its fleet charging payment platform. The London-based startup now counts more than 200 direct fleet customers after increasing annual recurring revenue over twentyfold in the past year.
The investment arrives as corporate fleets grapple with fragmented public charging networks and cumbersome reimbursement processes for home charging. Manual expense handling has become a significant bottleneck for companies transitioning to electric vehicles.
Soulmates Ventures led the round, with BlackWood Ventures and Purple Ventures also participating. All three firms have backed Rightcharge previously.
The company’s platform consolidates home and public charging payments into one system. When drivers charge company vehicles at home, the technology automatically repays them through their energy bills. Fleet managers gain visibility into both charging costs and carbon emissions across their operations.
Rightcharge claims fleets using its platform can cut charging expenses by up to 90 percent and emissions by around 30 percent. Administrative workload tied to processing charging reimbursements drops substantially as well.
Over the past twelve months, the company also signed its first five licensing agreements, allowing fleet suppliers to integrate Rightcharge’s home reimbursement technology into their own offerings.
Charlie Cook, founder and CEO, said customer response over the past year confirms the company is addressing a major pain point for fleet operators. The new capital will fund customer acquisition efforts, deepen strategic partnerships, and support product development as the company prepares for a Series A round.
The funding positions Rightcharge to extend its footprint beyond the UK market at a moment when European fleet electrification continues to gain momentum.
