Munich-based charging provider Qwello has secured up to €55 million from the ABN AMRO Sustainable Impact Fund and existing shareholders to expand its European public charging network and pursue further acquisitions.
The financing will support the company’s expansion in urban and residential areas, as well as the integration of acquired charging businesses.
Qwello currently operates more than 19,500 charging points across over 800 municipalities in Denmark, France, Germany, the Netherlands, Poland, Sweden, Spain and the United Kingdom.
The investment follows Qwello’s acquisition of a majority stake in Dutch charging infrastructure specialist Groen-Eco. The deal adds more than 1,400 charging points and extends Qwello’s operations beyond its traditional focus on public charging concessions to include private and semi-public locations.
Expansion Plans and Acquisition Strategy
Qwello plans to significantly expand its network over the next decade, prioritising densely populated urban and residential areas where access to public charging remains important for electric vehicle adoption.
Alongside organic network growth, the company intends to pursue acquisitions of businesses that fit its operating model and can be integrated into the group.
Qwello chief executive Henrik Thiele said the latest investment would support the company’s European expansion and reflected the confidence of its financial partners.
“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.”
Thiele added that the additional capital would strengthen the company’s ability to expand through acquisitions and new charging installations.
“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.”
ABN AMRO Commits Up to €25 Million
The ABN AMRO Sustainable Impact Fund will invest up to €25 million, alongside a similar amount from Tiger Infrastructure and other existing shareholders, according to the fund’s senior investment manager, Gaetano Giuffré.
“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.”
The financing combines capital from the sustainable investment fund with support from existing investors, providing resources for both infrastructure deployment and potential acquisitions.
New Charging Contracts and Munich Concession Dispute
Qwello has also secured a contract to install approximately 230 charging points at 65 locations in Germany’s Harburg district. The company operates the Harburg Model alongside Vattenfall and Wirelane.
In Munich, however, the company has faced difficulties securing public charging concessions. Qwello previously challenged tender procedures by the city through legal action, and courts identified shortcomings in the earlier processes.
Munich is now preparing a new concession tender for the construction and operation of public charging infrastructure.
The additional funding gives Qwello greater capacity to expand across its existing markets and pursue acquisitions, while the outcome of municipal tender processes will remain an important factor in its ability to secure new public charging locations.