After raising €24M, Amsterdam’s Fastned starts subscription to new bonds: Here’s why

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Amsterdam-based Fastned, the fast-charging company, announced on Thursday that it will be launching a new bond subscription in the Netherlands and Belgium. 

The proceeds will be used further to expand the network in both existing and new markets.

Raised €24M funding

The announcement comes a couple of months after the company raised over €24M through new bonds and an additional €3.5M from previous investments. 

This 14th round totalled over €27.5M, featuring a 6 per cent coupon and 5-year maturity. The company has now raised over €180M from retail investors.

In the first quarter of 2024, Fastned’s revenue increased by more than 42 per cent compared to the same period last year, reaching €18.9M. 

Fastned delivered over 31.4 GWh of renewable energy to more than 389 thousand customers.

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On the other hand, Fastned’s charging experience was recently rated the most reliable in Europe as well as the best charging network in Belgium and France by Chargemap users, the leading European app for referencing public charging spots. 

Brief about Fastned

Founded in 2012 by Michiel Langezaal and Bart Lubbers, Fastned claims to be a major player in the development of fast-charging infrastructure for electric vehicles (EVs) across Europe.

With over 280 fast charging stations in several European countries, the company enables EV users to charge their vehicles with up to 300 km of range in just 15 minutes. 

The Amsterdam-based company ensures the future viability of its charging stations by equipping them with both the physical and electrical capacity to charge hundreds of cars daily.

This commitment to scalability allows Fastned to make electric vehicle charging accessible and convenient for a wide range of users, aligning with their mission to provide EV charging for everyone.

Earlier this year, the company expanded its operations into Spain. The yellow canopies will first arrive in Spain in Casarrubuelos, a municipality of Madrid, located on the busy A42 motorway that connects Madrid with Toledo. 

The station has eight chargers, each with power of up to 400kW, where every day hundreds of EV drivers can charge their batteries. 

In addition to this location, Fastned has six more stations coming up in Spain.

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Vigneshwar Ravichandran

Vigneshwar has been a News Reporter at Silicon Canals since 2018. A seasoned technology journalist with almost a decade of experience, he covers the European startup ecosystem, from AI and Web3 to clean energy and health tech. Previously, he was a content producer and consumer product reviewer for leading Indian digital media, including NDTV, GizBot, and FoneArena. He graduated with a Bachelor's degree in Electronics and Instrumentation in Chennai and a Diploma in Broadcasting Journalism in New Delhi.

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