Investment deal for electric vehicle re-charging software firm

Global business payments company, FLEETCOR® UK, has made a minority investment in Sheffield-based Mina, a cloud-based digital software platform.

The platform simplifies charging and payments management for commercial fleets with electric vehicles (EVs).

It integrates with home and work charging points throughout the United Kingdom to accurately capture energy costs.

Mina credits payment for the drivers’ energy used while charging at home for business purposes to their energy provider, eliminating cumbersome expense reimbursement processes.

This makes paying for EV re-charging accurate and easy for employers and employees.

By removing the payment complexities traditionally associated with expense reclaim and EV charging, FLEETCOR UK says it can provide the Mina solution to commercial fleet customers transitioning to EV technology.

Alan King, FLEETCOR group president for Europe & Australasia, said: “FLEETCOR is in the business of solving and simplifying complex payment and logistics problems for customers of all sizes, industries and locations with innovative products and services.

“The move to EVs is just the latest business challenge facing commercial fleets.

“With EV adoption accelerating across the UK and Europe, Mina’s solution provides an effective and efficient means of tracking charging, simplifying payments and streamlining reimbursement, initially for our UK customers for EV charging needs, regardless of location.”

Ashley Tate, Mina co-founder and CEO, added: “By 2025, 75% of all EVs will be owned by businesses. For drivers, their homes will be an important location to charge vehicles.

“Most fleet operators want to support home charging, but are challenged in how best to handle driver reimbursement.

“Our award-winning technology offers businesses the simplest solution.”