London-based electric fleet and battery storage leader Zenobē has secured €325 million in debt financing to boost its electric vehicle (EV) operations across Europe.
The round, backed by a syndicate of seven international banks—including Mitsubishi UFJ Financial Group, Credit Agricole CIB, and new participant BayernLB—will fund the company’s fleets-as-a-service offering and expand charging infrastructure and EV deployments.
Supporting Major EU Cities and Operators
Founded in 2017 by Nicholas Beatty and Steven Meersman, Zenobē currently supports over 3,400 electric fleet vehicles in 120 depots globally, including major contracts in Coventry (130 buses) and Barcelona (44 buses). With this latest round, the company plans to deploy up to 1,000 additional electric buses and trucks across Germany, Spain, Belgium, the Netherlands, and Sweden.
“We not only offer financial backing but also provide the expert guidance necessary to empower fleet operators to switch to electric,” said Steven Meersman, Co-founder and Director at Zenobē.
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From Battery Storage to Fleet Electrification
Originally launched as a battery storage startup, Zenobē has evolved into a global player in transport decarbonization. The company now manages 430MW of battery storage with 1.2GW in advanced development, targeting a 20% market share in the UK by 2026. Their model addresses the challenges fleet operators face in capital access, infrastructure deployment, and green technology integration.
European Expansion Fueled by Green Demand
Zenobē’s push into continental Europe aligns with the continent’s accelerating push for zero-emission transport. The new funds will support further rollout of fleet solutions and charging infrastructure. Santander and SocGen acted as joint financial advisors for the deal, with legal counsel provided by Clifford Chance and Allen & Overy Shearman.
With this €325M raise, Zenobē is positioned to become a pivotal player in the €520 billion European transport electrification market.
