As electric vehicle (EV) adoption grows rapidly, with businesses purchasing over half of all EVs in the UK, managing charging expenses remains a complex challenge. Many fleets continue to rely on error-prone spreadsheets and manual reimbursement processes for home charging, which slows fleet electrification efforts and increases costs.
Rightcharge tackles these issues by automating home charging payments. Their platform links directly to drivers’ energy accounts, sending payments straight to their bills.
The company just secured £1.6 million in seed funding, led by Soulmates Ventures with backing from Blackwood Ventures, Unruly Capital, and Purple Ventures. This funding supports Rightcharge’s expansion across Europe, initiated through a white-label partnership with Octopus Electroverse.
Fixing EV payment pain for fleets
Founded in 2016 by Charlie Cook, an engineer with extensive experience at Octopus Energy and Octopus Electroverse, Rightcharge was born from the need for precise and hassle-free EV charging payments that empower businesses to electrify their fleets more easily.
Cook told TFN, “When I was working at Octopus, I saw firsthand how businesses, the biggest buyers of EVs, were struggling to reimburse their employees for charging at home. Because home energy bills don’t separate EV charging costs, companies were relying heavily on public charging, which can cost up to ten times more. Some solutions to track employee charging did exist, but they were often inaccurate and open to fraud.
That gap in the market, combined with my background in climate science and my desire to make a cleaner world, inspired me to build Rightcharge. I wanted to make it effortless and accurate for fleets to reimburse home charging and accelerate the shift to cleaner transport.”
Rightcharge’s technology integrates directly with home energy tariffs and providers, automating reimbursement without the delays and errors common in manual processing. Its AI-powered tools detect anomalies to ensure billing integrity and reduce fraud.
Cook elaborated, “We offer a unified system that makes EV charging payments seamless. One HMRC-compliant bill covers home and public charging. Drivers are reimbursed automatically through direct-to-energy-bill payments, while one card and app provide access to 70% of UK public chargers. By doing this, we help fleets cut charging costs by up to 90% and reduce carbon emissions by around 25%.”
Rightcharge distinguishes itself from Allstar, PAUA, and Octopus Electroverse through its direct energy account connections, AI validation, transparent billing, and strong partner network, including Octopus Electroverse, which enables it to tailor services for new European markets.
Cook confirmed to TFN, “We’re a diverse team of 12 based in London, representing three different countries. The team is made up of 42% women and 58% men. We believe problems are solved better by teams with diverse backgrounds because they have a wider solution set. Homogeneous teams have a narrower view of the world to draw on.”
What’s next?
Looking forward, Rightcharge aims to experience rapid growth in Germany, France, the Netherlands, Belgium, Norway, and Ireland. The company estimates that by 2035, over 100 million drivers worldwide will need reliable home charging reimbursement solutions.
Cook concluded, “Our goal is to grow to £10 million in annual recurring revenue by building strong partnerships and scaling our technology internationally. We’re also working on new innovations like vehicle-to-grid-compatible home reimbursement and tools that help fleets earn from grid flexibility revenues.”
