Portuguese charge point operator (CPO) Powerdot has landed €165 million in green financing from banks – ABN Amro, BNP Paribas (which backed Fnality and Bolt), ING, MUFG, Santander (which invested in Zenobē and Caeli Wind), and Société Générale (which backed FintechOS and BlaBlaCar) to scale its network of ultra-fast charging points. The package also includes an additional €60 million uncommitted accordion facility.
Earlier this year, the company raised €100 million. With the latest round, the total funding raised by the company accounts for over €465 million.
How will it use the investment?
The firm aims to reach 3,100 charging locations by 2026. As of February this year, the firm boasts over 5,000 active charging points across 1,300 locations, with another nearly 10,000 charging points across 1,400 locations in the plan.
This investment will also be utilised to enhance the technology and user experience, as well as to grow and develop the company’s team.
What does Powerdot do?
Founded in 2018 by Luis Santiago Pinto and Jose Sacadura, Powerdot invests, installs, and operates EV chargers. The company aims to create a charging experience in people’s lives by installing chargers in every day, high-traffic locations where people naturally park their cars.
Powerdot has over 6,000 charging points in 6 countries (Portugal, Spain, France, Poland, Belgium, Luxembourg), and is expanding rapidly. This growing network has been built through the company’s commercial partnerships with large retailers, shopping centres, motorway service stations, and fleet operators.
It will help the adoption of EVs by providing affordable and sustainable fast-charging stations in key public locations throughout Europe.
Currently, the company works with over 1200 partners across Portugal, Spain, France, and Poland like CBRE, Eleclerc, Galp, Accor, Cora, Intermarché, Eurocash, Ibis, and Carrefour, among many others.
“With this funding, we are poised to accelerate our deployment strategy, bringing EV charging solutions to more European locations and supporting widespread transition to sustainable transportation,” said Luis Santiago Pinto, Powerdot co-founder and CEO. “Powerdot’s long-term ambition and goals allow us to explore different financial tools for funding.”
What do we think about Powerdot?
Powerdot is making significant strides in the EV charging industry by rapidly expanding its network of ultra-fast charging points across Europe. With its strategic focus on high-traffic locations and partnerships with major retailers, Powerdot is well-positioned to accelerate EV adoption. Its commitment to enhancing technology and user experience, combined with strong financial backing, underscores its potential to become a key player in creating a more accessible and sustainable charging infrastructure.
