By: M4G Bureau
Last updated : August 20, 2024 9:53 am
The latest funding round for the EV charging company garners international backing, highlighting growing global interest in the emerging CEE electromobility sector.
ChargeEuropa, a leading electric vehicle (EV) charging infrastructure company based in Poland, announces the successful closure of their next funding round. The round was led by Shift4Good, a Paris-based, 200 million EUR impact investment fund - marking a historic milestone as the first significant French investment in Poland’s electromobility ecosystem. Shift4Good’s notable LPs include Renault Group, BNP Paribas Group, and the European Investment Fund.
Matthieu de Chanville, Managing Partner at Shift4Good, expressed enthusiasm about the partnership, stating, “Our investment in ChargeEuropa reflects our commitment to supporting innovative companies that drive positive environmental impact. We look forward to supporting ChargeEuropa expand into new markets, contributing to a sustainable transformation of transportation in Poland and Europe.”
Shift4Good brings deep experience from the automotive sector, providing strategic guidance and support to ChargeEuropa. This expertise will optimize ChargeEuropa’s plans to scale its operations, leveraging Shift4Good’s industry knowledge and connections to accelerate EV charging network growth.
The funding round also attracted co-investments and follow-on investments from several prominent players, including Simpact Ventures, a well-known Polish impact fund focusing on generating a positive, measurable social impact; MobilityFund, a German venture capital firm specializing in the mobility and transportation sector; and Canard Ventures, an American investment firm engaged in creative technologies. Swiss/Polish entrepreneur Alex Kostecki, known for co-founding the finance app Clair, also participated in the round. Kostecki brings valuable experience in scaling technology companies, having recently helped Clair secure a $175 million financing round.
“We are thrilled to support the growth of ChargeEuropa.” Says Wojciech Majewski, Partner at Simpact Ventures. “We believe that the business model will democratize access to clean transportation not only for major cities, but also smaller, underserviced regions.”
“We believe that ChargeEuropa has the potential to become the EV charging champion for CEE” says Jan-Christoph Rickers, Managing Director of MobilityFund. “By combining advertising with EV charging, the team can successfully deploy profitable stations in early-stage markets, ahead of the EV adoption curve.” Jan is an early supporter of ChargeEuropa, being involved with the company since the seed round in 2021.
Funding from the new investors together with the indicated banking market appetite will enable ChargeEuropa to expand its team and accelerate the development of its cutting-edge EV charging and Digital Out of Home (DOOH) technology. ChargeEuropa currently has a pipeline of over 1000 locations across Poland, this funding round will support team in deploying new chargers nationwide. The company also plans to expand its network into new markets, solidifying its position as a leader in the CEE EV charging infrastructure sector.
“We’re excited to have a dream-team of investors, each representing key pillars of what makes our business successful. The support we receive from them will allow us to take ChargeEuropa to the next level,” said Matt Tymowski, CEO of ChargeEuropa. “The involvement of our international investors underscores the growing interest in the Polish electromobility sector. This investment will not only help us enhance our technology and grow our team but also accelerate our mission to make EV charging more accessible and convenient across Poland and beyond.”
ChargeEuropa’s latest funding round marks a key milestone for the company and the broader Polish electromobility landscape, attracting international attention and investment. The company remains dedicated to pioneering sustainable solutions and setting new standards in the EV charging industry.