Fastned raises €21.9m in new bonds to expand its European electric vehicle charging network
The Dutch fast-charging company has secured fresh capital through retail bonds to scale its infrastructure across Europe.
≈ £18.7M at €1 = £0.8559 on 13 Jun 2023
Fastned operates a network of high-power electric vehicle charging stations across several European countries.
Fastned has raised €21.9m through the issuance of new bonds, supported by additional previous investments to expand its European charging network. The fresh capital will fund the rollout of ultra-fast charging stations as demand for electric vehicles accelerates across the continent.
The bonds carry a 5.5% coupon and a 5-year maturity, attracting retail investors amid challenging capital market conditions. The company currently operates over 150 stations and targets a significant expansion by the middle of the decade.
Chief Financial Officer Victor van Dijk noted that the successful raise demonstrates continued investor confidence in the firm's strategy. The funding aligns with broader European regulatory pushes for improved roadside charging infrastructure.
From the founder
"We are proud of the trust investors have put in Fastned again. Despite a challenging capital market environment, with continued inflation and increasing interest rates, Fastned once again proved its resilience in the retail bond market with a solid and growing investor base. Together, we not only build fast charging stations on high traffic locations, but we also grow a community around electric driving. We believe that the electric revolution will really take off when charging becomes hassle free and that is why we roll out our network across Europe: to offer freedom to electric drivers. Every day we get closer to our goal of one thousand stations by 2030, where we sell energy from renewable sources like sun and wind, actively helping to curb the climate crisis."
Victor van Dijk
CFO at Fastned
Use of funds
- 01Build out infrastructure