Electric vehicle charging software company Fuuse has raised a further £6 million from its existing investors, Par Equity and YFM Equity Partners, as it accelerates growth and moves closer to profitability.
The Lancaster-based platform — which provides EV charge point management software and services — said the follow-on investment came at an increased valuation after the company more than doubled its recurring revenues since its previous funding round.
The new capital will be used to accelerate growth in key markets, expand customer support operations, and strengthen Fuuse’s position as one of the UK’s fastest-growing clean tech scale-ups.
“This is a huge endorsement of the team at Fuuse and our long-term strategy,” said Michael Gibson, CEO at Fuuse. “Taking this additional funding now gives us the resource to build on the great work the team has delivered and charge forward.”
Fuuse’s investors praised its momentum and leadership in the rapidly growing EV charging infrastructure market.
“As the EV charging market accelerates, Fuuse has cemented itself as a clear leader — trusted and valued by their clients,” said Alastair Moore, Investment Director at Par Equity.
“We back the North’s most ambitious businesses, and Fuuse is a standout example. After an exceptional period of growth, we’re proud to be continuing to support Mike and the Lancaster-based team as they power through the next stage of their journey.”
Jonathan Marlow, Partner at YFM Equity Partners, added: “Fuuse continues to go from strength to strength. The team has built a scalable platform that’s helping shape the future of EV charging infrastructure in the UK and beyond.
This follow-on investment reflects our continued confidence in both the business and its leadership as they deliver on their mission to make EV charging smarter, more efficient, and more accessible.”
Over the past 18 months, Fuuse has achieved a string of major milestones that underline its growing influence in the sector.
The company oversaw a nationwide public charge point rollout with Arnold Clark, the UK’s largest car dealership, and has been integral to the rapid expansion of charge point operator Be.EV. Fuuse has also expanded internationally, entering markets in Italy and Sweden.
In 2024, Fuuse acquired the assets of Everyday EV, allowing it to handle more than 150,000 driver support calls annually, providing real-world insights to improve charging reliability and enhance operator reputation.
The company was also recognised by GP Bullhound as one of the UK’s fastest-growing software firms, underscoring its rising profile in the EV and clean tech ecosystem.
Fuuse’s platform enables operators and businesses to manage charging networks efficiently — from fleet charging and billing to maintenance, analytics and driver experience. As the UK scales up to meet 2035’s zero-emission vehicle targets, demand for robust charging infrastructure software is soaring.
With its latest raise, Fuuse plans to continue refining its technology, expanding across Europe, and achieving profitability in the near term.
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Fuuse raises £6m as EV charge point platform powers toward profitability
