Fastned Raised EUR 2.5 Million In 4 Days

Originally published on The ECOreport.

Fastned’s original funding came from its founders and angel investors such as the Lubbers family (Breesaap) and Fred Matser (Flowfund). Last year, the Dutch fast charging station company needed three weeks to raise EUR 3 million selling share certificates on Nx’change. Now, Fastned raised EUR 2.5 million in four days.

The bond issue started Friday, Dec 2, at 9 a.m. and was fully subscribed on Monday morning.

“To us this proves that people are paying attention to the commercial traction Fastned makes, that we seem to have found a financial instrument which these investors like and that the industry as a whole is getting into the reach of the “radars” of these people. The public is starting to trust e-mobility as the future form of mobility and more and more people (including these new investors) are showing trust in our company, people and business case,” said Michiel Langezaal, co-founder and CEO of Fastned.

A couple of years ago it was much more difficult to raise money for a charging network and Fastned had to rely on its founders and angels investors such as the Lubbers family (Breesaap) and Fred Matser (Flowfund).

“We are witnessing a true breakthrough. The shift that is taking place is very evident in the amount of time it takes us to raise funds. What took many months in 2014 only takes us a few days in 2016,” added co-founder Bart Lubbers.

Money To Continue Growing

This money will enable Fastned to continue growing. Over the past two years it has been delivering a consistent 10% month-on-month growth of kWh. This is 7 times faster than the Netherland’s adoption of EVs. Fastned currently has 57 Fast Charging stations (of which 55 are along the highway) and is expanding the network into cities and surrounding countries.

Photo: Courtesy Fastned