Electric vehicle payment software company acquired by global business
A global business payments company, has acquired Mina, a cloud-based digital electric vehicle (EV) charging software platform.
After a successful investment and two-year partnership, the acquisition by FLEETCOR provides Allstar’s parent company with the home charging software company for commercial fleets in the UK and reinforces its commitment to supporting the transition to EV.
FLEETCOR is the parent company of Swindon-based Allstar.
The acquisition gives Allstar the UK’s only EV charging solution which captures, calculates and pays for home business-use charging directly to the energy provider, Mina Homecharge.
Also branded as Allstar Homecharge, the solution allows commercial fleets to replace cumbersome employee reimbursement processes for home EV charging with a more accurate, controlled and streamlined alternative for employers and employees.
Combined with Allstar’s on-the-road EV charging capabilities, fleet managers now have access to a comprehensive suite of turnkey EV charging solutions that will help effectively manage their transition to EVs.
The shareholders of Mina were advised by a team from Clarion including Sarah Harrison and Santino Stifanelli.
The deal follows FLEETCOR’s recent acquisition of Plugsurfing and investment in Zap-Map, which both complement the extensive on-the-road fuel and EV network built by Allstar across the UK.
In addition, Allstar continues to invest in building out products and capabilities that not only help fleets move to EVs but also solve the complexities associated with managing mixed fleets.
Alan King, group president, Global Fleet at FLEETCOR, said: “Our goal is to provide companies of all sizes with a better way to pay.
“In the fleet space specifically, this acquisition means our customers can now benefit from a full suite of comprehensive payment and reporting solutions for on-the-road and home charging regardless of whether they operate ICE, EV, or mixed fleets.”
Tom Rowlands, global MD of EV solutions at FLEETCOR, added: “After working closely together with Mina for two years and seeing first-hand how the solution makes home charging simple, fair and secure for both employees and companies that operate some of the largest fleets in the UK, I am excited to officially welcome the Mina team to FLEETCOR.
“Unifying Mina with FLEETCOR enables us to roll out this market-leading home charging solution more easily and quickly, not just in the UK, but also take it to other geographies.”
Ashley Tate, CEO and co-founder of Mina, added: “In less than three years we’ve seen Mina grow from an idea to enabling some of the largest fleets in the UK to transition to EVs.
“None of this would have been possible without the support from FLEETCOR, who have believed and invested in Mina since we first came under their radar back in 2021.
“I’m extremely excited to continue this journey with the FLEETCOR team.”