Rightcharge receives £1.6m seed funding

The British cleantech start-up Rightcharge has raised over £1.6 million in a seed financing round. The round was led by Soulmates Ventures, with participation from Blackwood Ventures, Unruly Capital and Purple Ventures. The company intends to use the fresh capital to drive its expansion in Europe and simplify the billing of charging and energy costs for company fleets.

Automated billing for e-fleets

Rightcharge solves an increasingly relevant problem in the course of the electrification of company fleets: the complicated and error-prone billing of charging processes, especially for home charging by employees. The system links the driver's energy provider directly to the company and automates the reimbursement process. This is done without expense reports, manual entries or calculation errors. This eliminates typical sources of error, fraud risks and administrative work. At the same time, companies receive a tax-compliant, consolidated monthly invoice that covers all charging points, both private and public.

Up to 90% cost savings for fleets

According to Rightcharge, companies can save up to 90% on charging costs by using the platform if they opt for home charging instead of public charging infrastructure. At the same time, CO₂ emissions can be reduced by around 30%. For large fleet customers such as the Automobile Association (AA), the system is said to have already achieved annual savings of over £1,000 per vehicle.

Partnership with Octopus drives expansion

A key component of the European expansion is the new partnership with Octopus Electroverse. Rightcharge will integrate its home payments solution as a white label product and launch in Germany, France, the Netherlands, Belgium, Norway and Ireland in the coming months. The technology is already being localized for these markets, with other countries to follow.

Investors focus on rapid growth

"Rightcharge has built strong traction in a very short time, with almost no customer churn and a product that solves a clear bottleneck in the market," says Hynek Sochor, founder and Managing Partner of Soulmates Ventures. The growing market for company fleets in Europe in particular offers enormous potential; in Germany alone, over 80% of new premium vehicles are company cars, Sochor continues.

Aiming for ten million users

Rightcharge plans to support at least ten million drivers worldwide in charging their company vehicles by 2035.

We are building the payment infrastructure that makes e-mobility easy for fleets.

Charlie Cook, founder and CEO of Rightcharge

Over 70% of all charging already takes place at home and electrification can be significantly accelerated with precise, automated payment systems.

Digitalization of e-mobility gets rolling

With its solution, Rightcharge is addressing a crucial point in the second wave of e-mobility: the efficient integration of charging infrastructure into company processes. It is a real positive example of how new approaches can also reduce bureaucracy, make work easier for employees and achieve savings. The move into continental Europe shows that the start-up is well positioned to play a central role in the emerging EV payments ecosystem.