• Swindon & Wiltshire News
• Monday August 8 2022
• Author Name: Peter Davison

Zap-Map raises £9 million Series A funding including investment from Fleetcor and Good Energy

EV charging specialist Zap-Map has secured investment of £9 million from Fleetcor and Good Energy.

Bristol-based Zap-Map is an app which directs drivers to locate EV charging points. The firm says 70 per cent of the rapidly-expanding EV driver market is registered with its app.

The Series A fundraising round values Zap-Map at £26.3 million.

The £9 million investment comprises £3.7 million from long-time investor Good Energy, the Chippenham-based renewable energy provider, and £5.3 million from Fleetcor, a new investor and the leading global fuel card and payment provider.

Zap-Map says it will use the investment to build on its paid subscription base and launch overseas.

Richard Bourne, chief executive of Zap-Map, said: “This fundraising round allows us to accelerate Zap-Map’s core mission – making it simple for current and future electric vehicle drivers to plan journeys, search and pay for electric vehicle charging.

“Good Energy has proven a powerful partner to date and we are delighted to have a new strategic collaboration with Fleetcor which will supercharge our ambition to accelerate the provision of services to the fleet market and allow us to look ahead and expand internationally.”

Nigel Pocklington, chairman of Zap-Map and chief executive of Good Energy said: “I’m very excited to announce this new investment, which is a huge boost for Zap-Map’s growth plans.

“There are over half a million EV drivers in the UK, with millions more switching to electric in the coming years. It is a race towards zero-emission transport and Zap-Map is placed right at the front of the field, where we plan to keep it.

“Bringing on a partner with the scale and compatibility of Fleetcor ensures that that is possible, opening up further possibilities in international payments and fleet electrification.”