Munich-based charging provider Qwello has secured up to €55 million in growth funding. The investment round was led by the ABN AMRO Sustainable Impact Fund, which contributed up to €25 million, with the remainder provided by Tiger Infrastructure and existing shareholders.
The company currently manages over 19,500 charging points across more than 800 municipalities in eight European countries, including Germany, France, and the UK. Qwello recently acquired a majority stake in the Dutch firm Groen-Eco, adding over 1,400 charging points to its portfolio and expanding its reach into private and semi-public locations.
Qwello plans to use the new capital to accelerate the expansion of its public charging network in urban areas over the next decade. The company intends to continue its strategy of organic growth combined with targeted acquisitions of businesses that align with its existing infrastructure model.
The firm has recently secured a contract for approximately 230 new charging points across 65 locations in the Harburg district. Meanwhile, in its home city of Munich, Qwello is awaiting a new concession tender for public charging infrastructure following successful legal challenges against previous municipal procedures.
