Monta, a leader in the electric vehicle (EV) charging sector, has successfully completed its €80 million Series B funding round. This significant financial injection raises the company’s total funding to €130 million in three years. The round was co-led by Energize Capital, GreenPoint Partners, and Denmark’s state-backed Export and Investment Fund, featuring both new and returning investors.
Monta’s mission is to revolutionize the EV charging landscape through its innovative platform, catering to hardware manufacturers, operators, businesses, and EV drivers with an all-encompassing software solution. This latest funding will primarily go towards doubling the company’s team size, advancing product R&D, and expanding its partner network to further its role in global electrification efforts.
Since its inception in 2020, Monta has rapidly grown into a pivotal hub for the deployment, management, and optimization of EV charging infrastructure. Its platform not only supports businesses and operators but also aids hardware manufacturers in enhancing their products. It allows them to compare charge point brands and gain insights into usage and performance, streamlining troubleshooting and maintenance processes. Additionally, it provides EV drivers access to over 600,000 charge points across Europe.
Casper Rasmussen, CEO and founder of Monta, emphasized the company’s comprehensive approach to the EV charging market, “from the grid to hardware to business and drivers”, as a key differentiator. With one million monthly charging sessions and 130,000 charge points on its platform, Monta is demonstrating the growing momentum in this sector.
In 2023, Monta witnessed a 600% increase in annual recurring revenue, expanded into two new markets with offices in Paris and Barcelona, and significantly grew its workforce. Its success is bolstered by strategic partnerships with major industry players like Siemens, EGG, Rolec, and Uno-X, which utilize Monta’s platform for managing their charging needs.
Juan Muldoon, partner at Energize Capital and a member of Monta’s board, highlighted the over 40% annual growth in the EV charge point market and Monta’s position as a fast-evolving leader in this space. The company’s strategy to connect various participants in the EV ecosystem has established it as a crucial player in the transition to electric mobility.
Looking forward, Monta plans to utilize this investment to enhance its product development and expand its partner network. This strategy aligns with the company’s goal of creating a sustainable charging infrastructure, giving more control to operators and EV drivers over their energy consumption. Monta’s growing partner network is pivotal in driving the sustainability transformation in the mobility sector and establishing the infrastructure needed for a decentralized electrification system.