Electra raises cash for Belgian expansion

French charging firm continues its pan-European strategy

Electra raises cash for Belgian expansion
The CPO had added to its war chest with a second raise this year

Paris-headquartered fast charging-focused charge point operator (CPO) Electra has successfully secured new financing of €75mn ($81mn) in the form of a green loan, according to the firm’s CEO Aurelien de Meux.

The lending will come from a consortium of four banks: France’s Societe Generale, Credit Agricole and Groupe BPCE, and the Netherlands’ ABN Amro.

“This funding will empower us to expand our network of EV charging stations across Belgium,” says de Meaux.

Electra operates in France, Belgium, Luxembourg, Italy, Switzerland, Austria and Spain  across which it had 170+ charging stations by the end of last year  and launched in the Netherlands in early April. The CPO aims to reach 14,5000 fast charging points by 2030.

In January, Electra raised another €304mn in fundraising — what it says was the largest in France and second largest in Europe in the charging sector.

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