Electra, a French electric vehicle (EV) fast-charging network, has secured a significant €304 million in equity investment to support the transition to cleaner vehicles by deploying fast, reliable, and user-friendly charging stations. This latest fundraising, the largest in France and the second largest in Europe in the charging sector, brings Electra’s total raised to nearly €600 million in three years.
The funding round was led by PGGM, a Dutch pension fund service provider and one of the largest asset managers in Europe, through the “PGGM Infrastructure Fund.” Existing investors, including Eurazeo, RIVE Private Investment, the SNCF group through 574 Invest, and Serena, also backed the round, with Bpifrance participating through the Large Venture Fund.
Expanding EV Charging Infrastructure
Founded in 2021 by Aurelien de Meaux, Augustin Derville, and Julien Belliato, aims to install 2,200 stations with 15,000 charging points by 2030 across Europe. The company builds both physical charging stations for drivers to plug in their cars and software to support the charging process. Users can download the Electra app to book their spot and manage payments.
Strategic Partnerships and Growth
Electra has formed strategic partnerships with recognized players like Indigo, VINCI Autoroutes, Altarea, AccorInvest, and Louvre Hôtels Groupe. The company has deployed 1,000 charging points in eight countries, including France, Germany, Belgium, Luxembourg, Italy, Switzerland, Austria, and Spain, recording nearly 100,000 charging sessions per month.
Investor and Founder Statements
Dennis van Alphen, Head of Infrastructure Investments at PGGM, expressed support for Electra’s ambition to become a pan-European leader in EV charging facilities. Melissa Cohen, Managing Director of Infrastructure at Eurazeo, highlighted the transaction’s significance in driving Electra’s development as a fast-charge leader in Europe. Aurélien de Meaux, co-founder and CEO of Electra, emphasized the fundraising’s role in making Electra a leader in fast charging in Europe and contributing to the energy transition.
Accelerating the Shift to Electric Mobility
The fundraising will enable the company to strengthen its network and increase investments to expand coverage, playing a key role in the transition to electric mobility and reducing CO2 emissions in the transportation sector.