UK electric vehicle charge point company launches crowdfund as part of £9m fundraise

Feb 22, 2017 · bdaily.co.uk

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POD Point, the London-based electric vehicle charging point supplier, has launched a new £1.5m crowdfunding drive as part of a £9m fundraise.

The company, which is based out of Discovery House in Islington, is looking to raise the cash on Crowdcube, along with a further £7.5m funding led by VC firm Draper Esprit who have stumped up £3m of new shares alongside £2m of secondaries.

Barclays Capital are providing £2m in venture debt while POD has also managed to raise £550k from an assorted of angel investors.

The crowdfund, which the company hopes to utilise to expand its charging infrastructure across the UK, will be the third time the business has looked to raise capital on Crowdcube, following two previously successful rounds which raised a total of £3.3m.

Erik Fairbairn, CEO, POD Point commented: "This is a significant milestone for a sector that has been gathering momentum for some time.

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