Energy startup Rightcharge raises £500k led by Soulmates Ventures with BlackWood Ventures
This article covers Rightcharge, an energy startup that has raised £500k in a pre-seed funding round to push into Europe and develop its payments and reimbursement platform. The development aims to help fleet operators manage EV charging costs and automate reimbursements for drivers who charge at home.
Rightcharge, an energy startup that helps fleet operators manage EV charging costs and reimburse drivers for home charging, has raised £500,000 in a pre-seed funding round to push further into Europe and develop its payments and reimbursement platform. The small raise comes as fleets and regulators accelerate the shift to electric vehicles, increasing demand for tools that simplify the increasingly complex charging landscape.
Why it matters
Fleets face a fragmented charging market and administrative friction when drivers charge at home. Rightcharge’s product addresses two practical bottlenecks for electrification: tracing where vehicles charge and automating reimbursements for home charging. That matters because faster, lower-friction electrification can unlock operating-cost savings at scale — battery electric vehicles are estimated to offer 20 to 50 percent lower operating costs, and Europe-wide projections suggest as much as €246 billion in operating cost savings by 2030, according to Eurelectric.
Regulatory pressures add urgency. Proposed EU rules would require 45 percent of new fleet vehicles to be battery electric by 2030, creating a compliance and operational need for fleets to manage charging costs, emissions reporting and driver reimbursements across multiple countries.
Inside the product
Rightcharge combines home and public charging data into a single platform for fleet operators. It reimburses drivers automatically through energy bills and gives fleet managers visibility over charging costs and emissions. The company reports that fleets using the platform reduce charging costs by up to 90 percent, lower carbon emissions by around 30 percent and cut administrative workload.
Over the past year Rightcharge says it delivered more than 20x ARR growth and now serves over 200 direct fleet customers. It has licensed its home reimbursement technology to several major fleet suppliers, including Octopus Electroverse, POD (the UK EV charging provider owned by EDF), The Right Fuel Card (an Edenred company that supplies payment and card services to fleets), and Fuuse (a charging technology provider). Retention is high: the company reports more than 99 percent of customers remain on the platform after two years, and revenue within the existing customer base has grown by approximately 165 percent.
Partnerships are already supporting early international expansion. Through an agreement with Octopus Electroverse, Rightcharge has started operations in France and Germany and says Visa has certified it as a home charging reimbursement partner in Europe. Founder and CEO Charlie Cook is a trained engineer who previously worked at CERN and was a founding member of Octopus Electric Vehicles and Octopus Electroverse.
Who are the investors?
The round was led by Soulmates Ventures, with participation from BlackWood Ventures and Purple Ventures. The funding is intended to accelerate Rightcharge’s European expansion, product development and strategic partnerships while supporting customer acquisition ahead of a future Series A.
In the announcement, Michal Sikyta, Managing Partner at Soulmates Ventures, said:
Since our initial investment, Rightcharge has confirmed our conviction in the team, the product and the market opportunity. They have delivered rapid growth, maintained strong customer retention and secured partnerships with major players across the energy and mobility industries. As fleet electrification accelerates across Europe and other regions, we believe Rightcharge is well positioned to become a leading platform for EV charging payments and reimbursements.
If you're researching potential backers in this space:
- Explore our list of energy venture capital firms in the UK
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Founder perspective
In the announcement, Charlie Cook, Founder & CEO at Rightcharge, said:
The response from customers over the past year has confirmed we're solving a huge problem for fleets. We're directly supporting over 200 fleet customers in the UK and have maintained exceptionally high retention, with over 99% of customers remaining on the platform after two years. Existing customers also continue to expand their use of the platform, driving revenue growth of approximately 165% within our existing customer base. Having surpassed our most ambitious growth projections since our seed round, this funding will help us expand the service across Europe by giving more fleet suppliers access to our Rightcharge home reimbursement platform, and continue to improve the product.
The bigger picture
The deal highlights a practical corner of the energy transition: payments and reconciliation for EV charging are operational issues that can prevent fleets from realising expected operating-cost benefits. Rightcharge’s traction with UK fleets and early partnerships with energy and mobility providers show how commercial integrations matter in addition to vehicle availability and charging infrastructure.
The pre-seed raise is modest but aligns with wider investor interest in tools that smooth fleet electrification across borders. As EU rules and corporate sustainability targets push fleets toward electric vehicles, demand for software that handles home charging reimbursement, cost allocation and emissions visibility is likely to grow across the UK and Europe.
They've invested in Rightcharge
Get to know these energy investors
| Investors | Investment Focus | Startup Investments | Round Size | Connect |
|---|---|---|---|---|
 Soulmates Ventures( ) Prague, Czech Republic | ||||
 BlackWood Ventures( ) | TechEnergy | |||
 Purple Ventures( ) Brno, Czech Republic | ||||
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