Qwello receives 65 million euros in financing

Growth financing - Qwello receives millions in financing to further expand its European charging network

Munich, September 1, 2024 - The operator of charging points for electric vehicles, Qwello GmbH, has closed a financing round of up to 65 million euros. The financing round was realized in cooperation with the banks ABN AMRO and Investec. The funds are intended to support Qwello in its European expansion and further growth.

Part of the financing will be used to refinance the purchase of the Dutch charging point operator Park & Charge (PnC), which Qwello acquired in May of this year (we reported here). The financing package also includes an investment credit line and a revolving loan, which will be used to finance further growth projects at PnC.

Support for European expansion

Qwello founder Dr. Henrik Thiele is delighted with the conclusion of the financing. He sees the partnership with ABN AMRO and Investec as an important step in further expanding Qwello's market position. Thiele emphasizes that Qwello wants to play a central role as a reliable provider of charging infrastructure in European cities.

The financing is proof of the strength of our company and our business model

Dr. Henrik Thiele, Founder Qwello

Qwello is headquartered in Munich and is active in several European countries, including Germany, the Netherlands, Sweden, the UK, France, Spain and Poland. The company operates over 10,000 charging points in cooperation with local communities and relies on private investment to expand the charging network. Qwello offers cities a complete solution that covers all elements of the charging infrastructure.

With a clear focus on expanding public charging infrastructure, Qwello is pursuing the goal of driving decarbonization in Europe. The company is strongly committed to ESG (Environmental, Social, Governance) standards and sees itself as a driver of sustainable development in the mobility sector.

Support from Tiger Infrastructure Partners

Qwello is supported by Tiger Infrastructure Partners, an investment firm focusing on the development of infrastructure projects in Europe and North America. Tiger Infrastructure Partners provides growth financing for companies in the digital infrastructure, energy transition and transportation sectors. Back in 2021, we reported on the Startbase about an investment of over € 50 million by Tiger infrastructure Partners in Qwello.

The new financing offers Qwello the opportunity to further expand its activities in Europe and establish itself as a provider of charging infrastructure. The company plans to significantly expand its network of charging points in the coming years and thus make an important contribution to promoting electromobility in Europe.