Montreal-based EV startup 7Gen has raised $48 million CAD in senior secured debt financing from UK-based Zenobē, marking what the company calls the largest private EV debt deal in Canadian history.
The funding will supercharge 7Gen’s ability to scale its EV-as-a-service platform, which bundles electric vehicle leasing, charging infrastructure, and operational software into a single monthly service—making it easier for businesses to electrify their fleets without heavy upfront investment.
Powering the Next Wave of Commercial EVs
Founded in 2020, Seven Generation Capital plans to use the funds to deploy 400 to 500 electric vans, buses, and trucks, along with charging infrastructure, while also refinancing part of its existing fleet.
“We’re at a key inflection point,” said Frans Tjallingii, CEO and co-founder of 7Gen. “EV adoption is rising, and our value-added services are unlocking scale across multiple sectors.”
7Gen’s platform targets a wide range of clients—from SMBs to Fortune 500s, including names like DHL, FedEx, Staples, Fresh Prep, and GoBolt.
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A Vote of Confidence in Commercial EVs
Zenobē’s investment marks its first foray into Canada, as the UK firm looks to bring its EV fleet funding model to new markets. Zenobē has already supported over 2,000 electric vehicles across the UK, EU, U.S., Australia, and New Zealand.
“Canada’s clean energy and EV-friendly policies make it an ideal expansion market,” said Steven Meersman, co-founder of Zenobē. “We’re excited to bring our experience to support 7Gen’s growth and electrify Canada’s fleet landscape.”
From Vancouver to Montreal – and Beyond
7Gen relocated from Vancouver to Montreal as part of a broader strategy to strengthen its presence in Quebec, its largest market. The move aligned with investment commitments from local partners including Fonds de solidarité FTQ and Investissement Québec.
The company, now with a 25-person team, previously raised an $8 million Series A and recently acquired San Francisco-based EnergizedAI, a startup using AI to reduce EV charger downtime and operating costs.
Looking Ahead: Growth, Series B, and Resilience
Despite global trade tensions and tighter capital markets, Tjallingii said demand remains strong. He emphasized that Seven Generation Capital’s fleet complies with CUSMA trade regulations and is insulated from most U.S. tariffs.
Now, with major debt backing in place, 7Gen is prepping for a larger Series B raise in late 2025 to expand its fleet further and enhance its infrastructure offering.
“EV fleets are no longer a fringe concept—they’re financeable, scalable assets,” said Tjallingii. “This funding gives us the firepower to keep building at speed.”
With its largest funding round yet and strategic international backing, 7Gen is charging ahead to electrify Canada’s commercial fleets—one van, truck, and bus at a time.
