Electric-vehicle payment platform Rightcharge has secured £1.6 million in seed funding to accelerate its European expansion and help businesses simplify EV charging reimbursements for fleet drivers.
The funding round was led by Soulmates Ventures, joined by Blackwood Ventures, Unruly Capital, and Purple Ventures. The investment highlights growing confidence in technology solutions that streamline EV charging payments as the corporate world shifts rapidly toward electric fleets.
Making EV reimbursements effortless
Founded in 2019 by Charlie Cook, Rightcharge was born out of a simple but crucial insight: while most EV charging happens at home, managing reimbursements for business use remains complicated, error-prone, and time-consuming.
Rightcharge’s platform is directly linked with the home energy account of a driver, so that the refunds are automatically the electricity bill, which is the driver’s, not the bank account. Hence, the inconvenience of manual claims is done away with, it is ensured that there is accuracy when there are changes in tariffs, and at the same time, a transparent audit trail for tax compliance is created.
The technology also helps businesses avoid fraud and payment mismatches using AI-driven validation and anomaly detection.
On the public-charging side, Rightcharge offers drivers a single charge card that grants access to over 70% of the UK’s public chargers. All home and public costs are automatically consolidated into a single, HMRC-compliant monthly invoice, significantly reducing the administrative burden on fleet managers.
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Rapid growth and strong adoption
Rightcharge’s model appears to be resonating with large fleet operators. The company reports over tenfold growth in annual recurring revenue (ARR) during 2025.
Among its clients is The Automobile Association (AA), one of the UK’s largest fleet operators. According to Rightcharge, the AA has achieved cost reductions of more than £1,000 per vehicle annually while using 64% renewable energy for its EV operations.
These figures underline the platform’s potential to deliver both financial and environmental benefits for fleets transitioning to electric vehicles.
Backed to scale across Europe
With the new investment, Rightcharge plans to scale its technology across six European countries, Germany, France, the Netherlands, Belgium, Norway, and Ireland, through its existing partnership with Octopus Energy’s Electroverse network.
This collaboration will allow Rightcharge to integrate local charging networks and tariff systems, helping companies manage both domestic and international fleets through one unified platform.
The European market represents a major opportunity for Rightcharge. Fleet vehicles make up a significant share of new car sales across Europe, for instance, around 80% of high-end new cars in Germany are company-owned. That makes efficient reimbursement systems a critical enabler of EV adoption.
A growing global opportunity
Rightcharge estimates that by 2035, more than 100 million drivers worldwide will need to be reimbursed for charging their work vehicles at home. The company’s ambition is to serve at least 10 million of them.
This aligns with broader industry trends: fleet electrification is accelerating as governments tighten emission standards and corporations set net-zero targets. However, logistical hurdles, particularly around home charging payments, remain one of the last barriers to full adoption.
By automating reimbursement and consolidating public charging data, Rightcharge offers a scalable model to simplify fleet electrification across borders.
Founder’s vision for the next phase
Rightcharge’s founder and CEO Charlie Cook describes the home as “the quiet giant of electrification,” noting that over 70% of all EV charging already happens at home. He emphasizes that accurate, automated payments give businesses the confidence to electrify faster while reducing both costs and carbon emissions.
Backed by this latest round, Cook and his team now aim to make Rightcharge’s infrastructure the default standard for fleet charging payments across Europe.
Eyes on the road ahead
The announcement of the investment precedes Tim Cook’s planned visit to the Transport + Energy Forum at Warwick Conferences on 20 November 2025, where he will probably present the company’s expansion in Europe and how payment automation is facilitating the fast electrification of EV fleets.
While Europe strives to meet its targets for zero-emission vehicles, Rightcharge is the perfect example of how the three factors -Sustainability, technology, and practicality- can be harmonized. By the removal of payment complexity, thus the company becomes the principal driver of the clean mobility revolution that is taking over the continent.
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