Electric vehicle charging operator Bump raises $180 million • TechCrunch

French startup Bump has signed a multi-year funding partnership with DIF Capital Partners to deploy more electric vehicle charging stations and double its overall growth.

It’s a $180 million equity and quasi-equity deal that will be phased in from 2022 to 2030. Yesterday ZePlug also announced a significant investment – but ZePlug is focusing on a different market with partnerships with residential and office buildings.

Today’s news is extremely important as Bump operates with a capital-intensive business model. The company has already created 300 charging stations and plans to ship another 2,000 charging stations by the end of 2023.

Bump finances and manages the installation of new charging stations so that there is no upfront cost for their partners. Then the company takes care of maintenance and operation. He then takes a cut on the kWh, which gradually covers the investment costs and creates income for the company.

Like solar panels, it can take 5, 10 or 15 years for a charging station to become profitable. It’s an infrastructure business, which means it’s a long-term business.

Bump has two types of clients. It partners with retailers, malls, hotels, and various businesses that own parking spaces to deploy charging stations for anyone looking for a charging station.

He also works with logistics companies and other B2B customers who need to switch to electric vehicles. They have their own charging stations for their vehicles managed by Bump. Customers include StarService, TopChrono, Stuart, Europcar, Zity, Bolt and Marcel.

“I often compare our offering with Salesforce in the 2000s,” co-founder and CEO Francois Oudot told me. “You can either buy a server and a diskette or pay a monthly subscription per user.”

And it is true that switching to electric vehicles can be expensive. You have to buy new cars and trucks – electric vehicles tend to be more expensive than gas-powered vehicles. You then have to pay a construction company to install charging stations.

Vehicles are not meant to be a basic investment for logistics companies. Many companies choose to rent cars and prefer to pay a little more to charge their vehicles if they don’t have to manage their charging stations.

Bump itself works with major construction companies to install charging stations. They have their own software stack and a team that can monitor charging stations remotely. If it is a hardware problem, third-party companies can also be contacted 24/7 in case they need to come there in person to fix something.

With today’s new funding, Bump plans to deploy 25,000 charging stations by 2030. The startup will also hire around 100 people.

Picture credits: To bump

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