In this overview, we’ve included both equity deals and debt financing rounds. This mix was chosen to reflect the bigger picture: in the end, it’s about trust and the ability to generate long-term returns. The participation of major institutional players highlights how the capital markets increasingly recognise the value and stability of EV infrastructure investments.
The eight companies featured in this article offer a representative impression of the market. There are likely other large-scale financing rounds that have not been included here. Our goal is not to be exhaustive, but to illustrate the scale and momentum of investment in Europe’s EV charging infrastructure.
What do these CPOs have in common?
First, they all share pan-European ambitions. Each of these companies is operating or expanding in multiple European markets, building border-crossing infrastructure and positioning themselves as continental players.
Second, they are focused on rapid scaling. Whether it’s IONITY expanding from 5.000 to 13.000 chargers or Milence planning a Europe-wide truck charging network, the pace of growth is unprecedented and necessary to meet surging EV demand.
Third, and perhaps most critically, they are – in most cases – backed by institutional investors. These include global banks like ABN AMRO and Santander, infrastructure giants like Infracapital and GIP, and pension funds such as PGGM and APG. These long-term players are drawn to the sector’s stable returns, inflation resilience, and ESG credentials.
Financing Charging Networks becomes a core part of investment portfolios
Institutional investors, particularly those in asset management, see CPOs as reliable long-term infrastructure plays—akin to utilities. Ultra-fast and high-capacity charging assets offer stable, inflation-linked revenues and strong ESG credentials, aligning with net-zero portfolio strategies. Their interest is helping professionalise the sector, accelerate deployments, and scale pan-European networks.
This article explores the record-breaking IONITY deal and then highlights seven additional major financing rounds in Europe’s charging infrastructure space. These recent investments show how fast the sector is scaling, and how capital is flowing in to help accelerate Europe’s electrification goals.
IONITY – Germany
Founded: 2017
Headquarters: Munich, Germany
Markets: 24 European countries, focused on ultra-fast highway and urban charging
Financing: €600 million (2025)
Type: Green Loan Facility
Investors: ABN AMRO Bank N.V., BNP Paribas, Crédit Agricole Corporate and Investment Bank, ING Bank N.V., KfW IPEX-Bank GmbH, Landesbank Baden-Württemberg, MUFG Bank (Europe) N.V., Norddeutsche Landesbank Girozentrale, Rabobank, OEMs (BMW, Mercedes, VW, Ford, Hyundai), GIP (BlackRock)
After completing a historic €700 million equity round in 2021—led by Global Infrastructure Partners (GIP), a part of BlackRock, and IONITY’s OEM shareholders—IONITY has now secured another unprecedented investment. That 2021 equity round remains the largest in the European EV charging industry to date.
IONITY’s latest green loan facility sets a new standard. With an ambitious goal to expand from 5.000 to 13.000 charging points across more than 1.300 sites by 2030, the company is clearly preparing for the mass adoption of EVs. IONITY’s unique proposition lies in its ultra-fast chargers (up to 400 kW, soon 600 kW) and its full support for 800V vehicle platforms. Backed by a consortium of Europe’s largest automotive OEMs and one of the world’s largest infrastructure investors, IONITY is positioning itself as the backbone of long-distance electric travel in Europe.
Milence – Netherlands
Founded: 2022
Headquarters: Amsterdam, Netherlands
Markets: Pan-European, focused on heavy-duty vehicle charging
Financing: €500 million (2022)
Type: Equity Investment
Investors: Daimler Truck, TRATON Group, Volvo Group
Milence is a joint venture formed to build a continent-wide charging network for electric trucks. The company’s first hub opened in Venlo, Netherlands, and it plans 1.700 high-performance charging points by 2030. With its strong industrial backing and focus on logistics corridors, Milence represents Europe’s best shot at electrifying freight transport.
Allego – Netherlands
Founded: 2013
Headquarters: Arnhem, Netherlands
Markets: 16 European countries
Financing: €400 million (2022)
Type: Debt Facility
Investors: Société Générale, Banco Santander
Allego is a leading independent provider of EV charging infrastructure with more than 35.000 operational charge points across Europe. Active in 16 countries, Allego serves a mix of public, commercial, and fleet customers with a strong focus on fast and ultra-fast charging. Since 2018, Allego has been backed by sustainable infrastructure investor Meridiam, and it went public in 2022 on the NYSE. Its 2022 debt facility is being used to grow its public fast-charging footprint, especially in cities and at retail locations.
310 million convertible loan (2024)
In addition to its €400 million debt facility secured in 2022, Allego raised a further €310 million in 2024 via a convertible loan from its majority shareholder, Meridiam. The deal reflects ongoing confidence in the Dutch company’s long-term strategy.
Electra – France
Founded: 2021
Headquarters: Paris, France
Markets: France, Italy, Germany, The Netherlands, Belgium
Financing: €304 million (2024)
Type: Equity Investment
Investors: PGGM, Bpifrance, Eurazeo, SNCF, Serena and RIVE
Electra is a fast-growing French startup that specialises in high-speed charging stations in urban environments. With a focus on convenience and software-led optimisation, Electra is seen as a rising star in the EV space. Its 2024 Series B round will support the roll-out of over 2.000 stations by 2030.
Driveco – France
Founded: 2010
Headquarters: Paris, France
Markets: France and Southern Europe
Financing: €250 million (2023)
Type: Equity Investment
Investors: APG, Mirova, Corsica Sole
Driveco operates solar-powered EV charging stations and combines renewable energy infrastructure with e-mobility. Its recent funding will allow it to scale operations and enter new markets. As a pioneer in sustainable EV charging, Driveco appeals to investors focused on climate impact.
Zunder – Spain
Founded: 2017 (as Easycharger)
Headquarters: Palencia, Spain
Markets: Spain, France, Portugal, Italy
Financing: €225 million (2024)
Type: Loan
Investors: Santander
Zunder has quickly become one of Southern Europe’s top CPOs. Known for its clear user interface and reliable uptime, Zunder is expanding along key travel corridors in Iberia and Southern France. The loan from Santander supports its rapid site acquisition and charger deployment strategy.
Recharge – Norway
Founded: 2012
Headquarters: Moss, Norway
Markets: Nordic countries
Financing: €180 million (2024)
Type: Green Debt
Investors: KfW IPEX-Bank + three additional project finance banks
Recharge is the Nordic region’s leading public EV charging provider. Previously part of Fortum, Recharge became fully independent in 2022 after being acquired by Infracapital. With over 4.500 charge points on 800 sites, it has a strong foothold in Norway, Sweden, and Finland. The €180 million debt facility will help Recharge expand and upgrade its network, while moving toward its goal of becoming climate neutral by 2035.
Powerdot – Portugal
Founded: 2018
Headquarters: Lisbon, Portugal
Markets: Portugal, France, Spain, Poland
Financing: €165 million (2024)
Type: Green Debt
Investors: ABN AMRO, BNP Paribas, ING, MUFG, Santander and Société Générale
Powerdot partners with retail and hospitality sites to deliver convenient charging where people shop, eat or sleep. Its model is built around speed and scalability. The €165 million green debt package will fund more than 3.000 new locations across Europe.
In addition to the €165 million in green financing secured later in 2024, Powerdot also raised €100 million earlier that year in a separate equity round, led by existing shareholders Antin Infrastructure Partners and Arié Group.
With these two financing rounds combined, Powerdot attracted over €265 million in fresh capital in 2024 alone. This dual investment effort highlights the strong confidence from both institutional investors and financial institutions in the company’s growth strategy and scalable business model.
The EV Charging sector gains confidence from long-term investors
The wave of financing in Europe’s EV charging sector is more than a trend—it’s a structural shift in how energy, mobility, and infrastructure converge. CPOs like IONITY, Milence, Allego and others are proving that capital is available when the business case aligns with both economic and environmental goals.
With over €2 billion raised by just eight companies in recent years, this is a sector gaining confidence from long-term, institutional investors. Their involvement brings discipline, scale, and acceleration to what was once a fragmented and speculative market.
As Europe pushes toward its 2035 emissions targets, and the EV population continues to grow, robust and reliable charging infrastructure will be non-negotiable. The next decade will belong to those operators who can execute with scale, speed, and smart strategy—backed by the capital to match their ambitions.
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