Verdane, the European specialist growth equity investor, and EVA Global, a leader in end-to-end managed services for EV charging, have announced a significant minority investment in EVA Global, to support the Company’s global growth agenda.
To serve clients in a global market, EVA Global will tap into Verdane’s significant previous software experience and mobility space investments including EasyPark and Movimento to support EVA’s geographical service and product expansion, to build out the organization, and strengthen in-house tech development. The investment was made by one of Europe’s largest growth impact funds, Verdane’s EUR300m Idun I, which held its final close in December 2021.
“At EVA Global, our mission is to accelerate the transition to cleaner energy globally, and we want to be our clients’ trusted partner for charging infrastructure management and driver engagement,” said Niina Suuriniemi Hopper, CEO of EVA Global, “With Verdane, we share common values in a vision of sustainability. Together, we have more resources to grow globally, and we look forward to building our platform and serving our customers even more broadly.”
Since launching in Finland in 2017 EVA Global has expanded its business to 32 countries across Europe, Asia, and the United States, with more than 300,000 charging points that serve over 1,750,000 EV drivers annually. The Company, whose clients include Digital Charging Solutions, Greenflux, Ionity, Renault and Zap-Map, provides differentiating end-to-end solutions to the emobility industry – from customer experience, infrastructure monitoring and Service & Maintenance services to a purpose-built customer relationship management and case handling tool, and field service management. Based out of offices in Finland, the Netherlands, Spain, and Germany, EVA Global’s fast-growing team of more than 150 employees provide hotline services in over 27 languages and handle more than 100,000 customer service cases monthly. During 2021, EVA Global grew their recurring revenue by over 600%.
Donald Hopper, co-founder of EVA Global, said: “We are the first mover in a rapidly growing industry and the market is developing fast. We set out to be our clients’ voice and a trusted partner in a changing landscape and today we serve some of the largest and most forward-looking companies in the world. Ultimately, our network approach to platform, service and infrastructure monitoring enables us to maximise the availability, reliability and accessibility of charging infrastructure across more than 32 countries. We are the leader in Europe and this year we will expand our business to Asia and the United States.”
Reed Snyder, investment director at Verdane, said, “Niina and Donald and the team at EVA Global have already placed the Company on a promising growth track in a booming segment, and we are excited to become their partner. Through ingenious technology development and a relentless commitment to the customer and driver experience, the company has become a leading managed services provider in e-mobility. We look forward to helping them accelerate the global transition to a transportation sector powered by clean energy.”
Verdane Idun I is classified as “Article 9” under the European Union’s Finance Disclosure Regulation and invests in sustainable tech-enabled companies that contribute to UN Sustainable Development Goals, including businesses that focus on the energy transition, sustainable consumption and resilient communities. Previous Idun investments include Auntie, a digital provider of workplace wellbeing services, and Spond, a digital enabler of grassroot sports and physical health.
The parties have agreed not to disclose the terms of the investment.
