Fleetcor steps up investment in Mina to bolster EV charging offer

Fleetcor has made a follow-on investment in EV charging payment business Mina, bolstering the commercial arrangement between the two businesses.

The investment provides Mina with the capital to scale its product offering more quickly and also improves access to home charging for existing Fleetcor customers and fleets across the UK.

The Mina platform integrates with home and work charging points throughout the UK to accurately capture energy costs. Mina is the UK’s only EV charging solution which credits payment for the drivers’ energy used while charging at home for business purposes to their energy provider, eliminating cumbersome expense reimbursement processes. This makes paying for EV re-charging more accurate and easier for employers and employees. By removing the payment complexities traditionally associated with expense reclaim and EV charging, Fleetcor is actively providing the Mina solution under the Allstar HomeCharge brand to commercial fleet customers transitioning to EV.

“Since our initial investment in Mina, Fleetcor has worked closely with Mina and existing customers to build out and trial an all-encompassing On-road and home EV charging and payment solution. This has helped businesses to simplify complex payment and logistics problems.

“We are seeing an increasing number of fleets beginning their transition to Mixed EV / fossil vehicles, and our innovative integrated product offering with Mina leverages our respective strengths and is proving to be a compelling proposition for our customers,” said Alan King, Fleetcor group president, Europe & Australasia.

Ashley Tate, Mina co-founder and CEO, added: “We’re very excited to receive further investment from Fleetcor. We have been working closely over the last year to build an industry leading payment solution to enable businesses to pay for charging their EVs at home, work and on the road.

“Businesses are under increasing pressure to decarbonise their fleets and our award-winning technology offers businesses the simplest solution to solve the very complex challenge of paying to charge EVs.  It’s clear the demand for Mina’s products is here today and growing. This investment enables us to meet that demand and scale at a significant pace."

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