November 2, 2021 The Munich-based charging infrastructure startup Qwello has received a 50 million euro investment from the US private equity firm Tiger Infrastructure Partners. Qwello says it can use the capital to finance its next growth phase.
Qwello is a young company that has AC charging points in Hamburg, Munich and Frankfurt . The charging station used is an in-house development that, according to the company, is designed to score points primarily with its user-friendliness and some additional functions such as reservations via app.
Henrik Thiele, CEO and founder of Qwello, commented on the now publicized 50 million euro investment from the US investor as follows: “We were looking for a financial partner who shares our vision of simplifying charging in public, urban places. We believe that Tiger is a like-minded investor whose expertise and capital will help us make Qwello a leading brand in Europe. With Tiger’s investment, Qwello is well positioned to help cities across Europe meet the immediate and growing need for public charging infrastructure for electric vehicles.”
The new capital will therefore be used, among other things, to expand the charging network to other European cities. Qwello says it wants to continue to rely on partnerships with local municipalities and convince customers with its complete package, which includes hardware, software, installation, operation and maintenance.
Emil W. Henry, Jr., CEO and Managing Director of Tiger Infrastructure, praises Qwello for having “developed an impressive product and established a number of partnerships with major cities for the installation and operation of charging stations.” The company is looking forward to funding Qwello’s growth and the development of the infrastructure to create a leading provider of charging infrastructure for electric vehicles.
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Read full original article on electrive.net here.