Voltaback Raises €2.8 Million in Latest Funding Round
Voltaback, a French company based in Levallois-Perret, has raised €2.8 million in its latest funding round. The round was led by European investment fund Serena, with participation from investors Aurélien de Meaux, co-founder of Electra, and Maxime Brousse, a Sequoia Scout.
Company Overview
Voltaback specializes in simplifying the process of tracking and reimbursing home charging costs for company electric vehicles (EVs) without requiring additional equipment. This allows businesses to manage employee reimbursements accurately and cost-effectively.
Leadership and Vision
The company was co-founded by Adrien Guenard, who serves as the Chief Technology Officer, and Arnaud Tran, the Chief Executive Officer. Arnaud Tran highlighted the importance of their service, noting that "if employees aren't reimbursed by their employer for charging at home, they lose out on €600 a year, which pushes them toward public charging stations."
Expansion and Adoption
Voltaback's platform has quickly gained traction, especially among major French companies. Within a year, it was adopted by 20% of CAC 40 firms, including notable names like Veolia and Equans. The platform's ability to operate without complex equipment installations at each employee's home has been a key selling point. Veolia's Director of Vehicle Fleet & Mobility Solutions, Arnaud Willing-Salleron, stated that Voltaback was the only solution that met their scaling challenges effectively.
Use of Funds
The newly acquired funds will be used to further develop Voltaback's fleet management and employee mobility tool. This includes expanding the platform's capabilities and possibly increasing its reach to more businesses across Europe.
Conclusion
With the fresh funding, Voltaback is well-positioned to enhance its services and continue its growth in the EV fleet management sector. The support from Serena and other investors underscores the potential and trust in Voltaback's innovative approach to EV management.