This French startup raises 2.8 million euros to solve the challenge of functional electric cars
Charging one’s functional electric car at home is much cheaper than using a public charging station. Yet it’s still necessary to know how to accurately reimburse the employee for this expense. The French startup Voltaback aims to automate this challenge and has just raised 2.8 million euros to accelerate its progress.
At first glance, plugging in a company car at home seems like the simplest solution. For businesses, however, the reality is more complicated: how to accurately determine the electricity consumed by the vehicle and reimburse the employee at the correct rate? It is this problem that Voltaback set out to address. Founded in 2023 by Arnaud Tran and Adrien Guenard, this emerging company claims to already be equipping 20% of the CAC 40 companies. Its clients include Veolia, BNP Paribas, Equans, Sanef, Lyreco, Loxam, Fayat, Fives, and Sodexo.
To continue growing both in France and across Europe, the company has just completed a €2.8 million funding round led by Serena. Aurélien de Meaux, co-founder and CEO of Electra, as well as Maxime Brousse from Sequoia Scout, also participated in this funding round.
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8 euros at home compared to 30 euros at public chargers
Voltaback’s main advantage lies in the absence of additional hardware. The platform combines data from electricity bills, Linky meters, and connected vehicles to identify charging sessions and calculate their actual cost. According to the company, this allows it to generate a receipt usable by employers.
The financial impact can quickly become significant. Voltaback estimates that an employee without reimbursement could lose around 600 euros per year. Conversely, companies may spend up to 2,000 euros annually when drivers prefer public charging stations. In summary, a 50 kWh charge costs about 8 euros at home, compared to 30 euros when charging on the go.
Beyond charging, Voltaback also aims to become a fleet management tool, offering mileage tracking, in-kind benefits, and ESG indicators. This positioning could prove strategic as electric vehicles accounted for over 40% of new vehicle registrations among businesses in September.