Lancaster-based Fuuse, the UK’s leading electric vehicle charge point management platform, said it has secured £8.7 million in venture funding to help its next stage of growth.

The Series A startup funding was provided by lead investor YFM Equity Partners, and existing investors Par Equity and an angel syndicate. 

Fuuse, which has more than 60 staff, has quadrupled its business in the last 12 months, with over 750 clients and 70,000 active users. It said the new investment will be focused on scaling up its enterprise product offer. 

The company’s clients include SSE, Scottish Power, British Airways, Siemens, United Utilities and Arnold Clark.  

Fuuse CEO Michael Gibson said: “YFM’s experience of working with innovation-led businesses has proved invaluable. The team immediately understood our vision and recognised our potential.

“With the backing of YFM, Par and our angel investors, we can continue to curate the future of EV infrastructure and help more customers to deliver an optimised, reliable and trusted EV charging experience.”