Monta is accelerating the electrification of mobility through its EV charging platform, which serves hardware manufacturers, operators, businesses, and EV drivers with one integrated software solution. This latest funding will go towards doubling its UK headcount as Monta pursues 80% growth in connected charge points in the UK and increasing its UK annual recurring revenue by 130% in 2024.
Since its founding in 2020, the company says it has become the de facto hub for simplifying and streamlining the deployment, use, and management of EV charging infrastructure for businesses and operators.
Monta’s platform also assists hardware manufacturers in optimising their products by enabling them to benchmark charge point brands, provide insights into usage and performance, and speed up troubleshooting and maintenance time.
In 2023, Monta increased its annual recurring revenue by 600%, opened two new markets including new offices in Paris and Barcelona, and nearly doubled its employee headcount.
This growth has been supported by the addition of several new strategic partners including Siemens, EGG, Rolec and Uno-X, which rely on Monta’s platform to manage their fleets, home and work charging needs in addition to leveraging the company’s extensive roaming network of more than 600,000 charge points.
“The market for electric vehicle charge points continues to expand on an impressive trajectory – over 40% annual growth – and is demanding a modern solution to manage the increasing volume and complexity of touchpoints between electric vehicles and charging infrastructure,” said Juan Muldoon, partner at Energize Capital and a member of Monta’s board of directors. “With a business model that touches participants across the EV ecosystem to connect the dots and enable scale, Monta is that solution.”
Monta will leverage this investment to double down on its successful ecosystem strategy by strengthening investments in product R&D, expanding its partner network across all markets and together with the industry creating a sustainable charging infrastructure to give operators and EV drivers more control over their energy consumption.
Energize Capital led the funding round with participation from returning investors Headline, byFounders, AENU and Creandum. New investors include GreenPoint Partners, Quantum Light and Denmark’s state-backed Export and Investment Fund.
