Electric vehicle charge point management platform Fuuse has raised 拢6 million in follow-on investment as it continues its journey towards profitability.
The round, led by existing investors YFM Equity Partners and Par Equity, follows a period of strong performance from the Lancaster-based business, which has more than doubled recurring revenues since its last investment.
The business provides a software platform that helps organisations optimise and manage their EV charging infrastructure.
It has rapidly expanded its footprint, working with major partners such as Arnold Clark and Be.EV, and recently entered new international markets including Italy and Sweden.
鈥淔uuse continues to go from strength to strength,鈥� said Jonathan Marlow, partner at YFM Equity Partners.聽
鈥淭he team has built a scalable platform that鈥檚 helping shape the future of EV charging infrastructure in the UK and beyond.聽
鈥淭his follow-on investment reflects our continued confidence in both the business and its leadership as they deliver on their mission to make EV charging smarter, more efficient and more accessible.鈥�
Michael Gibson, CEO at Fuuse, added: 鈥淭his is a huge endorsement of the team at Fuuse and our long-term strategy.聽
鈥淭aking this additional funding now gives us the resource to build on the great work the team has delivered and charge forward.鈥�
Fuuse has been recognised as one of the UK鈥檚 fastest-growing software companies by GP Bullhound.聽
It has also expanded through acquisition, including the purchase of Everyday EV鈥檚 assets, and now manages over 150,000 customer calls a year through its driver support service.