Qwello offers cities a turnkey charging solution by providing all elements of charging infrastructure, including hardware and software development, installation, operation, and maintenance. The charging stations are also equipped with user-friendly features, such as symbol-based user communication for universal use or options for contactless credit card or mobile payment. The associated app enables billing, reservation, and location search. With this approach, the Munich-based startup is already active in many European markets, including the UK, France, Spain, and Poland.
Now Qwello can announce the successful completion of its €65 million funding round. The financing follows the recent acquisition of Dutch charging point operator Park & Charge (PnC), which was completed in May. The investors in the current round are ABN AMRO and Investec. The financing includes refinancing part of the purchase price for PnC, which can be invested in Qwello’s European expansion, as well as further growth financing for PnC through an investment framework and a revolving credit facility.
“Springboard for further growth”
Qwello founder Henrik Thiele said:
“The financing is proof of the strength of the company and its business model in light of robust CP utilization within the Qwello portfolio and positive market growth in connection with the increasing proliferation of electric vehicles and public CP demand. We look forward to expanding our presence as a reliable provider of critical infrastructure for municipalities across Europe. This new partnership with ABN AMRO and Investec creates a springboard for further growth.”
Founded in 2016, Park & Charge established itself in the Dutch market by offering municipalities a charging infrastructure solution for electric vehicles. The company, which according to its own information is active in around 200 Dutch municipalities, continues to operate independently in the Netherlands following the acquisition and is to focus on growth in the public sector. The collaboration offers both parties the opportunity to expand faster and thus meet the growing demand for charging stations.
