Qwello offers cities a turnkey charging solution by providing all elements of the charging station infrastructure, including hardware and software development, installation, operation, and maintenance. The charging stations are also equipped with user-friendly features, such as icon-based user communication for universal use and options for contactless credit card or mobile payment. The accompanying app handles billing, reservations, and location searches. The Munich-based startup is already operating this approach in many European markets, including the UK, France, Spain, and Poland.
Qwello can now announce the successful completion of its financing round of 65 million euros. The financing follows the recent acquisition of Dutch charging point operator Park & Charge (PnC), which was completed in MayAbn Amro and Investec are investors in the current round. The financing includes the refinancing of a portion of the purchase price for PnC, which can be invested in Qwello's European expansion, as well as the further growth financing of PnC through an investment facility and a revolving credit facility.
“Springboard for further growth”
Qwello founder Henrik Thiele says:
"This financing is a testament to the strength of the company and its business model, backed by robust CP utilization within the Qwello portfolio and positive market growth related to the increasing adoption of electric vehicles and public CP demand. We look forward to expanding our presence as a reliable provider of critical infrastructure to municipalities across Europe. This new partnership with Abn Amro and Investec creates a springboard for further growth."
The company, founded in 2016 Park & Charge has established itself in the Dutch market by offering municipalities a charging infrastructure solution for electric vehicles. The company, which claims to be active in approximately 200 Dutch municipalities, will continue to operate independently in the Netherlands after the acquisition and will focus on growth in the public sector. The collaboration offers both parties the opportunity to expand more rapidly and thus meet the growing demand for charging stations.
