Rightcharge has raised a £500,000 (about $675,000) growth round from existing investors as it expands into France and Germany following a year in which the company reports more than 20x growth in annual recurring revenue. Soulmates Ventures led the round alongside BlackWood Ventures and Purple Ventures, all of which backed the London-based startup’s earlier seed funding. Rightcharge builds a platform that automates home EV charging reimbursements and consolidates public charging payments for fleet operators, and the company says it now serves more than 200 direct fleet customers in the UK.
Highlights
- £500,000 (about $675,000) growth round led by Soulmates Ventures with BlackWood Ventures and Purple Ventures, all existing investors
- More than 20x ARR growth over the past year, according to the company, with over 200 direct UK fleet customers
- Five licensing deals signed for the home reimbursement technology, including Octopus Electroverse, POD (EDF), The Right Fuel Card (Edenred), and Fuuse
- Launch in France and Germany through the Octopus Electroverse partnership, with initial fleet deployments in place
What the Funding Supports
The company says the capital will go toward further European expansion, product development, and strategic partnerships, and will help position Rightcharge for a future Series A round. Rightcharge closed a £1.6 million seed round in late 2025 with the same lead investor.
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.”
How Rightcharge Handles Fleet Charging Payments
Rightcharge’s platform brings home and public charging into a single system. For home charging, it reimburses drivers automatically through their energy bills rather than through manual expense claims, while giving fleet managers a consolidated view of charging costs and emissions. The company says fleets using the platform cut charging costs by up to 90%, reduce carbon emissions by around 30%, and lower administrative workload.
The company frames the product against a market backdrop it describes as accelerating. Rightcharge cites Eurelectric data indicating battery electric vehicles offer 20–50% lower operating costs than conventional fleet vehicles, with the transition projected to unlock up to €246 billion (about $285 billion) in operating cost savings by 2030. It also points to proposed EU rules that would require 45% of new fleet vehicles to be battery electric by 2030.
Licensing Partners and European Expansion
Rather than selling only to fleets directly, Rightcharge has begun licensing its home reimbursement technology to energy, mobility, and fleet providers that want to add it to their own offerings. The company now works with five licensing partners:
- Octopus Electroverse — the partnership through which Rightcharge has launched in France and Germany
- POD — the UK EV charging provider owned by French energy group EDF, which recently adopted Rightcharge to power automated reimbursements within its Home Fleet solution
- The Right Fuel Card — an Edenred company
- Fuuse — charge point management software provider
The Octopus Electroverse relationship gives Rightcharge its first footprint outside the UK, with initial fleet deployments and local partner relationships already in place in France and Germany, which the company describes as two of Europe’s largest EV fleet markets. Rightcharge also reports it was recently certified by Visa as a home charging reimbursement partner in Europe, which the company says validates its platform against Visa’s standards for functionality, integration, and security.
The licensing model builds on earlier integration work, including a partnership with charger manufacturer Humax that ties vehicle identification at the charge point to Rightcharge’s reimbursement platform.
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.”
Cook, a trained engineer who previously worked at CERN, was a founding member of Octopus Electric Vehicles and Octopus Electroverse before launching Rightcharge.
Rightcharge has raised £500,000 from existing investors after reporting 20x ARR growth, expanding into France and Germany and signing five licensing partners including Octopus Electroverse, POD, and Edenred’s Right Fuel Card.
