Amsterdam-based fast-charging startup Fastned strengthens its position with €6M of new capital

Amsterdam-based fast-charging startup Fastned strengthens its position with €6M of new capital

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Fastned, which is building a nationwide network of fast-charging stations in the Netherlands has strengthened its assets by €6 million. This concerns €3.5 million of new capital and also the conversion of a €2.5 million loan from Flowfund. According to the company, the newly injected capital will be used to finance further expansion of the Fastned network.

For this issue, new certificates of shares were issued at a price of €10 apiece. The Fastned certificates can be traded via the Nx’change stock exchange.

Notably, Fastned was established in 2012 by Michiel Langezaal. Fastned is building a European network of fast charging stations where all-electric cars can charge quickly with 100% green electricity.

The stations will be built at A-locations along the motorway and in cities, where electric cars can be recharged in an average of 20 minutes. Fastned’s goal is to build a European network of 1000 fast-charging stations.

With this, Fastned wants to give the electric driver the freedom to be able to drive throughout Europe. Fastned currently has 85 fast charging stations operational in the Netherlands and Germany.

Active work is being done on fast-charging stations in the Netherlands, Germany, the United Kingdom and Belgium. Fastned is listed on the Nxchange stock exchange.

Bart Lubbers, co-founder Fastned, said

With this power boost, Fastned can further expand the network of charging stations and thus offer even more freedom to the electric drivers. Flowfund has supported Fastned almost from the start. The conversion of its loan to capital is a sign of confidence in the future.

Stay tuned to Silicon Canals for more updates in the tech startup world.

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