£500k · Growth/Late · E-commerce · London, UK
London-based Rightcharge has raised £500,000 in follow-on growth funding to expand its fleet electric-vehicle charging payments platform across Europe. Existing investor Soulmates Ventures led the round, with BlackWood Ventures and Purple Ventures participating, according to Tech.eu. The company plans to give more fleet suppliers access to its home-charging reimbursement technology while continuing product development.
Rightcharge brings home and public charging payments into one system for fleet operators. Its platform calculates the electricity used to charge company vehicles at employees’ homes, automates reimbursement through their energy accounts and gives fleet managers a consolidated view of charging costs and emissions. That replaces a mix of public-network invoices and manual home-expense claims with one payments and reporting layer.
A distribution layer for fleet charging
Soulmates Ventures says Rightcharge has increased annual recurring revenue more than twentyfold over the past year, grown to more than 200 direct fleet customers and signed its first five licensing agreements with fleet suppliers. The investor also reports 99% customer retention and about 165% revenue growth within the existing customer base. Those are company and investor figures, but together they point to two routes to market: selling directly to fleets and embedding the reimbursement product inside suppliers that already serve them.
The partnership route matters because charging is operational infrastructure, not a one-off software purchase. Rightcharge works with Octopus Electroverse, The Right Fuel Card, Fuuse and POD, the EDF-owned charging provider. Soulmates Ventures says the Octopus relationship has already taken the service into France and Germany, with initial fleet deployments and local partner relationships in place. If suppliers can carry the product into their own customer bases, Rightcharge can enter a new market without rebuilding distribution from zero.
Rightcharge’s own H1 2026 platform data shows why fleets need both sides of the product. Home charging accounted for 59% of energy consumed, while public networks supplied 41%. Home sessions were concentrated outside working hours and public sessions during them. The commercial problem is therefore not simply finding a charger: it is reconciling two payment environments, reimbursing drivers accurately and steering activity towards lower-cost options without disrupting fleet operations.
The £500,000 round follows a £1.6m seed investment led by Soulmates Ventures in late 2025. The investor says the new capital will support European expansion and preparation for a future Series A. The execution test is whether Rightcharge can turn its early supplier licences and French and German deployments into a repeatable partner-led model while maintaining the retention and customer expansion it reports.
Sources checked:
Tech.eu report · Tech.eu Funding Explorer · Soulmates Ventures announcement · Rightcharge charging analysis
