Qwello secures up to 55 million euros
Munich-based charging provider Qwello is securing up to 55 million euros from the ABN AMRO Sustainable Impact Fund and existing shareholders such as Tiger Infrastructure for its further expansion. The investment is intended to support the continued expansion of Qwello’s public charging network in European cities as well as targeted acquisitions.
Image: Qwello
Qwello currently operates over 19,500 charging points in more than 800 municipalities in Denmark, France, Germany, the Netherlands, Poland, Sweden, Spain, and the United Kingdom. The company has recently acquired a majority stake in the Dutch charging infrastructure specialist Groen-Eco. This move allows Qwello to expand its business, which has so far focused heavily on public concessions, to include private and semi-public charging locations, thereby acquiring 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 intends to continue focusing on densely populated urban and residential areas where convenient and reliable public charging is essential for the transition to electric mobility.
Qwello continues to rely on acquisitions as well
In addition to expanding its own store network organically, Qwello also plans to continue with acquisitions, aiming to purchase companies that fit its business model and can be successfully integrated into the group.
Qwello’s CEO, Henrik Thiele, said about the financing: “This investment is another important step in Qwello’s European growth strategy and reflects our long-term financial partners’ confidence in our business model and operational capabilities. Since starting our partnership with Tiger Infrastructure in 2021 and ABN AMRO Bank in 2024, we have expanded our network, demonstrated strong utilization of our portfolio, and successfully integrated acquired companies.”
Accelerating store network growth
Thiele continues, “With the additional capital, we are better positioned to seize attractive acquisition opportunities, successfully integrate acquired companies, and accelerate the growth of our network to make reliable public charging more accessible in European cities.”
Gaetano Giuffré, Senior Investment Manager at ABN AMRO Sustainable Impact Fund, added: “Qwello has demonstrated the operational and financial discipline we expect from infrastructure companies. What’s particularly impressive is the company’s ability to build a scalable public charging network while simultaneously identifying and successfully integrating acquisitions. Our investment of up to 25 million euros, along with a similar amount from Tiger Infrastructure and other shareholders, reflects our confidence in Qwello’s business model, its execution capability, and its growth potential across eight European markets. With its privately funded infrastructure model and close partnership with municipalities, Qwello helps develop the charging capacity needed for Europe’s transition to electric mobility.”
This year, Qwello has already secured contracts for around 230 new charging stations at 65 locations in the Harburg district. There, Qwello, along with Vattenfall and Wirelane, is one of the operators of the so-called Harburger Model. Ironically, in its hometown of Munich, Qwello has faced obstacles for years in establishing charging infrastructure: the company sued over previous bidding processes conducted by the city. After courts identified deficiencies, Munich is now preparing a new concession process for the construction and operation of public charging infrastructure.