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DateInvestorsAmountRound
-investor investor investor

€0.0

round
investor

€0.0

round
N/A

€0.0

round
investor

€0.0

round
*

€75.0m

Valuation: €75.0m

Acquisition
Total Funding000k

Financials

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Revenues, earnings & profits over time
EUR201720182019202020212022
Revenues000000000000000000000000
EBITDA000000000000000000000000
Profit000000000000000000000000
EV000000000000000000000000
EV / revenue00.0x00.0x00.0x00.0x00.0x00.0x
EV / EBITDA00.0x00.0x00.0x00.0x00.0x00.0x
R&D budget000000000000000000000000

Source: Company filings or news article

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More about Plugsurfing
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Plugsurfing operates as a central player in the European electric vehicle (EV) charging market by providing a unified platform that connects EV drivers, charging point operators (CPOs), and car manufacturers. Founded in Berlin in 2012 by Adam Woolway and Jacob van Zonneveld, the company was established to simplify the charging experience and address the fragmentation within the growing e-mobility sector. The founders aimed to tackle "range anxiety" by creating a comprehensive database of charging points with real-time information and a single billing system. Adam Woolway's background as a touring musician exposed him to urban pollution, which, combined with experience at a large UK energy firm, inspired the venture. Jacob van Zonneveld's interest was in applying systems theory to complex business problems in a way that contributed to a cleaner environment.

The company's core business revolves around its e-mobility platform, which offers several solutions. For EV drivers, Plugsurfing provides a mobile application and an RFID charging key that grant access to one of Europe's most extensive charging networks, encompassing over 1,000,000 charging points across numerous countries. This service eliminates the need for multiple accounts and payment methods for different charging networks. The business generates revenue through charging transactions, adding a margin on top of the cost from the CPO, and offers a subscription model, Plugsurfing Plus, which provides discounted charging rates at select networks. For CPOs, Plugsurfing offers a white-label, cloud-based management software, the Plugsurfing Power Platform, to help them operate their infrastructure more efficiently, manage hardware, and handle payments. Another significant revenue stream comes from partnerships with automotive original equipment manufacturers (OEMs) like Polestar, ZEEKR, and XPeng, providing them with white-label solutions and API integrations to offer branded charging services directly to their customers. This B2B approach allows carmakers to integrate a seamless charging experience into their own digital ecosystems.

Plugsurfing's journey includes significant milestones that have shaped its market position. In March 2018, the company was acquired by Fortum Charge & Drive, a Finnish energy group, which helped develop the robust "Power Platform". A subsequent acquisition occurred in September 2022, when FLEETCOR Technologies, a global business payments company, purchased Plugsurfing for approximately €75 million. This move was intended to expand FLEETCOR's EV solutions for its commercial fleet customers while enabling Plugsurfing to scale its platform and expand into new market segments and geographies. The company maintains offices in Berlin, Helsinki, and Stockholm and continues to form partnerships with numerous CPOs to constantly expand its network coverage.

Keywords: EV charging, e-mobility service provider, charging network, electric vehicle, charge point operator, CPO software, automotive OEM solutions, roaming provider, EV charging app, charging infrastructure, white-label EV solutions, electric vehicle payments, RFID charging key, fleet charging solutions, e-mobility platform, European charging network, public charging, EV roaming, charge point management, API integration, smart billing, emobility alliance

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