Utrecht-based Park ‘n Charge, a company on a mission to become the fastest-installing EV charging station operator in the Netherlands, announced that it has raised €16.4M in a fresh round of funding.
The investment came from Rabobank, a Dutch multinational banking and financial services company.
According to the Dutch company, the charging infrastructure that it has developed is capital-intensive and expensive.
And now, the company has the financial capacity to respond to the demand for a fast-expanding charging network thanks to the refinancing of prior loans totaling €6.4M and expansion financing of €10M to build new charging stations.
Park ‘n Charge says it will use the funds to further expand the charging network in the coming years.
In the next two years, the company wants to more than double its current 6,000 charging stations that are spread throughout the Netherlands.
Read more on Tech Gist Africa:
Dutch thermoplastic composite pipe producer Strohm bags €15M