Tap Electric secures 1 million seed funding from LUMO Labs, Shamrock Ventures and Fair Capital Impact Fund

Press release September 14, 2023

AMSTERDAM, Netherlands – Tap Electric, a startup focused on improving driver experience with solutions for electric vehicle drivers and charger owners, announced today it has closed a EUR 1 million seed funding round led by LUMO Labs, Shamrock Ventures and Fair Capital Partners Impact Investing.

Tap Electric has two key products: a driver app, known for its industry-leading price transparency features and ease of use, and a platform for charger owners and installers to collect payments and manage their hardware. Notably, Tap Electric is the only platform in the market where charge owners and installers don’t pay any fees, an important business model innovation enabled by a high degree of automation.

The new funding will enable Tap Electric to expand its team to bring its products to market faster. The investment brings together three veterans from the pioneering first wave of the Dutch EV charging industry: Tap co-founders Nico Spoelstra and Dan Pezim, formerly of GreenFlux (acquired by DKV in 2021), and investor Alef Arendsen, Founding Partner at Shamrock Ventures and co-founder of NewMotion (acquired by Shell in 2017).

Accessible charging solutions are at the core of their business to make the transition to electric easier for drivers, while bringing together mobility with renewable power, directly impacting SDGs 7 (Affordable and Clean Energy) & 11 (Sustainable Cities and Communities).

“We’re thrilled to have the support of such experienced investors who share our vision of delivering brilliant driver experience at the intersection of grid and mobility,” said Nico Spoelstra, CEO and Co-Founder of Tap Electric. “This funding round gives us not only the capital required to execute our mission at pace, but also the strategic support we need to accelerate our impact.”

“We are excited to invest in Tap Electric’s cutting-edge technology and innovative approach to electric vehicle charging,” said Sven Bakkes, Founding Partner at LUMO Labs. “We believe Tap Electric has the potential to revolutionize the EV charging market and significantly reduce the environmental impact of transportation.”

“Shamrock Ventures is proud to support Tap Electric in its mission to provide sustainable and convenient EV charging solutions,” said Alef Arendsen. “We are impressed by the team’s passion and commitment to advancing the adoption of electric vehicles, and we look forward to seeing their impact on the market.”

“We are excited to partner with Tap Electric to help bring their innovative and sustainable EV charging solutions to market,” said Daan Laméris, Partner at Fair Capital Partners Impact Investing. “With our Fair Capital Impact Fund, we are committed to supporting companies that are driving positive change, and we believe that Tap Electric has the potential to make a significant impact in the transition towards a more sustainable future.”

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