Dutch startup Fastned raises €12M with bonds, to grow its EV fast-charging stations

These days, there is an increase in the adoption of a sustainable lifestyle in Europe. Many companies have come forward to prove that such a lifestyle is not too complicated, challenging or expensive. Also, the national governments in Europe are providing their support to realise a sustainable lifestyle that will leave a positive impact on the environment.

One of the ways to reduce the CO2 emissions is to promote the use of electric vehicles and adoption of alternative fuels. And, the mobility industry has transformed to a great extent with this idea in mind. While there are a few electric vehicle manufacturers operating in Europe, there are some that help users increase the adoption of such vehicles.

Amsterdam-based Fastned is one such company, which builds a nationwide network of fast-charging stations in the Netherlands. It lets drivers of electric vehicles to commute across the country with ease.

Secures €12M funding

Fastned just announced that it has secured €12 million funding with the issue of bkonds. Notably, almost a thousand investors had subscribed to the issue. The fast-charging network let investors subscribe to Fastned bonds from November 21 to December 12. These bonds pay 6% interest per annum during a term of 5 years.

Expansion of fast-charging network!

With the issue of bonds, Fastned is financing the expansion of its fast-charging network among other things. As there is a strong growth in the number of electric cars and the demand for fast-charging infrastructure, this expansion will definitely pave the way for its growth.

For the uninitiated, the subscription of Fastned bond was priced at €1000. However, the issue was limited to 15,000 bonds, which amounts to €15 million. Though the company ended up raising €12 million during the period.

More fast-charging stations

Michiel Langezaal, CEO Fastned said, “It’s great to see that so many people invest in the transition to a more sustainable world. With the proceeds from this bond round, we can further expand the capacity of our network with more stations and more faster chargers. That way we can continue to meet the growing demand for fast charging. “

As of now, Fastned founded in 2012 by Michiel Langezaal and Bart Lubbers has 113 charging stations in the Netherlands, UK and Germany. With this move, the company aims to expand across Europe by increasing the number of fast-charging stations. The Dutch company is focusing on establishing its stations in Belgium, France, and Switzerland among other countries.

Main image picture credits: Fastned

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