UK-based startup Rightcharge has secured £1.6m ($2.13m) in its seed funding round aimed at simplifying electric vehicle (EV) charging payments for fleets in Europe.

The funding round was spearheaded by Soulmates Ventures and saw contributions from UnrulyCapital, Blackwood Ventures, and Purple Ventures, reported Tech.eu.

With the objective of broadening its market reach, Rightcharge has established a partnership with Octopus Electroverse.

According to the post, the funding is expected to facilitate the startup’s entry into several European countries, including France, Germany, the Netherlands, Norway, Belgium and Ireland.

Rightcharge’s platform is designed to streamline the reimbursement process for EV drivers who charge their vehicles at home, by connecting directly with their energy account to automate the payment process, reported the media outlet. 

The method is claimed to support fluctuating energy tariffs and reduces the potential for fraudulent claims while providing a clear record for tax compliance purposes.

The technology extends to fleet vehicles, incorporating AI to validate charging sessions and detect any irregularities.

Additionally, Rightcharge offers a public charge card that is accepted at a majority of UK public charging stations, consolidating all charging expenses into a single monthly invoice that complies with HMRC requirements.

The service is already in use by several UK fleets, including the Automobile Association (AA), and has been adopted by organisations in the construction, healthcare, and government sectors.

In the post, Rightcharge said: “Our platform helps businesses cut charging costs by up to 90% and reduce carbon emissions by around 30% compared to public charging.

“By automating home charging reimbursement and providing a single card for public charging, we reduce administration and give fleets the confidence to electrify.”