- Easycharger, the largest fast charging network for electric vehicles in Spain, manages to close its round in the midst of the crisis for a value of 625,000 euros (125% of the target).
- With 150 investors, Easycharger is able to finance its expansion plan aimed at maintaining its leading position.
- The funding round opened through Fellow Funders’ Crowd Investment Division for Easycharger was closed at one of the most difficult times due to the COVID-19 crisis.
- The Crowd Investment Division of Fellow Funders has an equity crowdfunding platform authorised and supervised by the CNMV and founded by former banking executives.
Madrid/Palencia April 1,2020. Today EasyCharger’s funding round has reached 125% of funding, the maximum allowed by the Spanish Securities and Exchange Commission (Comisión Nacional del Mercado de Valores), through the Spanish equity crowdfunding platform of Fellow Funders.
Specifically, the Palencia-based company dedicated to charging electric cars and which has the largest fast charging network for electric vehicles in Spain, has raised 624,979 euros through 150 investors. In this way, it becomes a very special round for taking place in the midst of the COVID-19 crisis.
Through this funding round, which has had an average ticket of 4,166 euros, EasyCharger seeks to finance new charging stations throughout Spain, expanding its current offer, which already has 15 stations and a total of 45 charging points. This investment will allow them to offer current and future customers several charging points in the main radials of the Spanish geography.
As Daniel Pérez, Co Founder and CEO of EasyCharger explains, “We decided to go for Equity Crowdfunding and we have not been wrong, we have raised the money we needed to continue growing without bank leverage and involving more than 150 investors“.
In addition, it plans to improve the back and front office systems of its platform in order to offer its partners and customers an unprecedented user experience in terms of both planning and quality of service.
“The success of this funding round is a clear sign that investors are betting on new business models related to sustainability and the environment”, says Francisco Mariscal, CEO of Fellow Funders.
With the closing of this round, Fellow Funders has become the Spanish platform that has raised the most capital since its inception at the end of 2016.
EasyCharger began its journey in 2017, when the electric car charging market in Spain was not yet a reality. They currently have 50 kW fast chargers and 22 kW semi-fast chargers on the main Spanish national roads and motorways, with the subsequent aim of making the leap to European roads. This has allowed them to adapt to the needs of their growing customer base. In fact, “most of its investors are customers of the company’s charging points”, says Mariscal.
With this round of financing, Fellow Funders, a Spanish fintech authorised by the CNMV to work with equity crowdfunding, opens a new financing channel for this type of project in full expansion. “EasyCharger would have been able to finance the construction of new charging points through banks, but they opted for equity crowdfunding to involve their most loyal customers in this project”, concludes Francisco Mariscal, CEO of Fellow Funders.
Easycharger is a Spanish company with a charging point management platform for electric vehicles, which allows free access to charging for all electric vehicles on the market. The only network open to all Charge Managers, owners of charging points and users of electric vehicles. EasyCharger has an application for mobile devices that allows you to charge your electric vehicle without the need for physical registration or access card. It takes care of the installation, management and maintenance of the charging points, allowing charging 24 hours a day, 7 days a week. www.easycharger.es
About Fellow Funders
Fellow Funders is an independent firm whose mission is to support SMEs and startups in their expansion and consolidation plans through the search for an optimal financing model. The Finance Symphony represents the harmony of the 4 movements at the service of entrepreneurs, managers and their companies, as well as investors: from the valuation of a company through Fair Value, through the financing rounds of the Crowd Investment platform, the financial and strategic advice through Alternative Assets, and finally by accompanying its clients in their exits to the capital markets with its Capital Markets division.
These four movements are synergistic and harmonious. They work together to generate the same melody, offering their clients the services they need for their transformation, corporate growth and internationalisation.