Qwello secures up to €55 million in growth funding
Munich-based charging provider Qwello has secured up to €55 million from both the ABN AMRO Sustainable Impact Fund and existing shareholders to fund its further expansion. The investment will support the continued growth of Qwello's public charging network in European cities as well as targeted acquisitions.
Image: Qwello
Qwello currently operates over 19,500 charging points across more than 800 municipalities in Denmark, France, Germany, the Netherlands, Poland, Sweden, Spain and the United Kingdom. The company has just acquired a majority stake in Dutch charging infrastructure specialist Groen-Eco. This expansion broadens Qwello’s business, which has previously focused heavily on public concessions, to include private and semi-public charging locations, adding a portfolio of over 1,400 charging points.
At the same time, Qwello plans to significantly expand its network over the next ten years. The Munich-based company will continue to prioritise densely populated urban and residential areas, where convenient and reliable public charging is essential for the transition to electromobility.
Qwello continues to pursue acquisitions
In addition to organically expanding its own charging network, Qwello will continue to pursue acquisitions. The company aims to acquire businesses that align with its model and can be successfully integrated into the corporate group.
Regarding the financing, Qwello CEO Henrik Thiele commented: “This investment marks another important step in Qwello’s European growth journey and reflects the confidence of our long-standing financial partners in our business model and operational performance. Since establishing our relationship with Tiger Infrastructure in 2021 and ABN AMRO Bank in 2024, we have expanded our network, demonstrated strong utilisation across our portfolio and successfully integrated acquired businesses.”
Accelerating the growth of the charging network
Thiele continued: “With additional capital, we are even better positioned to pursue attractive acquisition opportunities, integrate acquired businesses successfully and accelerate the growth of our network to make reliable public charging more accessible across European cities.”
Gaetano Giuffré, Senior Investment Manager at the ABN AMRO Sustainable Impact Fund, added: “Qwello has demonstrated the operational and commercial discipline we look for in infrastructure businesses. Its ability to expand a scalable public charging network while selecting and successfully integrating acquisitions is particularly compelling. Our investment of up to EUR 25 million alongside a similar amount from Tiger Infrastructure and other shareholders reflects our confidence in Qwello’s model, its execution capabilities and its opportunity to grow across eight European markets. Through its privately financed infrastructure model and close partnerships with municipalities, Qwello is helping develop the charging capacity needed for Europe’s transition to electric mobility.”
This year, Qwello has already been awarded a contract for approximately 230 new charging points at 65 locations in the Harburg district (DE). There, Qwello, together with Vattenfall and Wirelane, operates the so-called Harburg Model. Ironically, in its hometown of Munich, Qwello has faced obstacles for years in its efforts to build charging infrastructure: the company had filed lawsuits against previous tender procedures by the city (DE). After courts identified flaws, Munich is now preparing a new concession tender for the construction and operation of public charging infrastructure.