Rightcharge secures £1.6m in seed funding led by Soulmates Ventures to drive European expansion
The seed round was led by Soulmates Ventures with participation from Blackwood Ventures, Unruly Capital and Purple Ventures.
Rightcharge simplifies electric vehicle charging payments and expense management for corporate fleets. The platform consolidates home and public charging costs into a single compliant bill while automating driver reimbursements.
Rightcharge has raised £1.6m in seed funding to accelerate its expansion into European markets. The round was led by Soulmates Ventures, with participation from Blackwood Ventures, Unruly Capital and Purple Ventures. The company plans to use the capital to scale its operations internationally, aided by a new white label partnership with Octopus Electroverse.
The London startup has experienced rapid growth, reporting more than tenfold annual recurring revenue growth over the past year. Its technology addresses the administrative burden of reimbursing employees for home charging by linking directly to energy suppliers and automating HMRC compliant billing.
From the founder
"We’re building the payments infrastructure that will make EV charging effortless for fleets. The home is the quiet giant of electrification. Over 70% of charging already happens there. Accurate, automated payments give businesses confidence to electrify faster, while cutting costs and carbon. Thanks to our investors and our partnership with Octopus, we’re now bringing that capability to fleets across Europe."
Charlie Cook
Founder and CEO at Rightcharge
Investor perspective
"Rightcharge has scaled at impressive speed, combining rapid growth with virtually zero churn and a product that removes a key barrier to electrification. For fleets, the savings are so significant that adoption becomes an obvious choice. Europe offers a vast opportunity. In Germany alone, 80% of new high-end cars are company vehicles. Rightcharge is uniquely positioned to become the backbone for European fleets – all this while also delivering clear benefits for the planet."
Hynek Sochor
Founder and Managing Partner, Soulmates Ventures
Use of funds
- 01Expand into international markets
Investors
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About the company
Rightcharge
Rightcharge provides integrated payment infrastructure for electric vehicle fleet charging.