Driveco, an innovative French electric vehicle-charging company, has announced a €250 million ($275 million) fundraising round from Dutch pension fund manager APG, one of the world’s largest institutional investors.
Driveco said its second round of funding is the largest in the EV-charging point sector in France to date and one of the most significant in the sector globally.
Driveco operates the second largest French EV-charging network open to the public, with more than 8,000 charging points in operation or under construction. After initially focusing its business on developing and operating charging stations for third parties, the company began a strategic shift to own charging points in 2020.
Driveco said APG’s investment will support the company’s goals of becoming a major player in EV-charging infrastructure in France and in Europe. The additional financial will enable the company to strengthen its territorial presence to consolidate its leading Fre