Rightcharge raises £500k for European expansion

The follow-on round was led by Soulmates Ventures, with BlackWood Ventures and Purple Ventures also participating. Rightcharge says the funding will support customer growth, product development, strategic partnerships and further European expansion.

The amount is modest compared with many charging-infrastructure funding rounds, but the underlying market development is notable: reimbursement for employees charging company EVs at home is increasingly being treated as a dedicated fleet software and payments workflow rather than a manual expenses process.

Rightcharge combines home reimbursement and public charging costs

Rightcharge’s platform is designed to bring home and public charging payments into a single system for fleet operators. For home charging, the service can use charging data and the driver’s electricity tariff to calculate the cost attributable to the company vehicle and automate reimbursement through the household energy bill.

The company also consolidates charging information for fleet managers, providing visibility of charging costs across home and public use. Public charging access can be incorporated through the wider Rightcharge service and partner propositions.

Rightcharge and its investors report that the business now supports more than 200 direct fleet customers and has signed five licensing partners. The company has also expanded into France and Germany through partners including Octopus Electroverse.

It reports more than 20-fold annual recurring revenue growth over the past year. That growth figure, customer count and related retention metrics are company and investor-reported; the sources reviewed do not provide independently audited verification of those operating figures.

Charger integration is part of the reimbursement problem

A recent integration with Andersen EV shows why the reimbursement category is connected to charging hardware as well as finance software. Announced on 27 August, the integration allows charging data from Andersen home chargepoints to flow into Rightcharge, which then calculates the cost using the driver’s home electricity tariff and applies the reimbursement to the energy bill.

For fleets, this can remove the need for drivers to submit individual charging expense claims and can create a more consistent evidence trail. It also means charger data access and software integration become relevant purchasing considerations where a fleet wants automated home reimbursement.

A charger being installed at an employee’s home does not by itself solve that process. The fleet still needs a way to identify eligible vehicle charging, determine the applicable electricity cost, handle payment and present the information in a form that can be reconciled centrally.

HMRC now separates home and public advisory electric rates

The reimbursement landscape has also become more explicit in HMRC guidance. From 1 September 2026, the advisory electric rates for fully electric company cars are 7 pence per mile for home charging and 15 pence per mile for public charging.

HMRC also states that mileage can be apportioned where a company car is charged at both residential and public locations, and that a higher amount than the advisory rate can be used where the employer can demonstrate that the actual cost per mile is higher.

Those advisory rates do not eliminate the case for measured charging data. Fleets may still want actual-cost reimbursement, automated evidence, tariff-specific calculations or a consolidated view across different charging locations, particularly as vehicle numbers increase.

European expansion raises the value of repeatable fleet workflows

Rightcharge’s expansion into France and Germany suggests that the company sees the reimbursement problem as repeatable beyond the UK, although tax, electricity and employment rules still vary between markets and the sources reviewed do not detail every localisation required.

The £500,000 round is less significant for its size than for what it says about the category. As more company vehicles charge away from depots, the administrative layer linking charger data, household electricity, public charging and employer reimbursement is becoming a product in its own right.