FleetCor invests in EV charging payment startup Mina
FleetCor UK has made a minority investment in startup firm Mina, which provides a cloud-based digital software platform to simplify EV charging payments for fleets.
Mina’s ‘EV Fuel Card’ charging solution credits payment for the energy used while charging at home for business purposes straight to the driver’s energy provider. This streamlines the expense reimbursement processes, cutting the headaches for employers and employees, and its work was recognised in the 2021 Great British Fleet Awards, which saw Mina take the Innovation in Electric Vehicles accolade.
FleetCor, parent firm of Allstar as well as The Fuelcard Company, Keyfuels and r2c, said it would provide the Mina solution to commercial fleet customers transitioning to EV, complementing its existing work to support UK businesses making the switch.
This includes adding Mina’s home reimbursement solution to Allstar’s Home & Work Charging solution, giving customers the ability to reimburse for their employees’ home charging directly, accurately and automatically to their utilities, and augmenting Allstar’s fuel card for on-the-road EV charging.
Alan King, FleetCor group president, Europe & Australasia, said: “The move to EVs is just the latest business challenge facing commercial fleets. With EV adoption accelerating across the UK and Europe, Mina’s solution provides an effective and efficient means of tracking charging, simplifying payments and streamlining reimbursement, initially for our UK customers for EV charging needs, regardless of location.”
Ashley Tate, Mina co-founder and CEO, also commented: “By 2025, 75% of all EVs will be owned by businesses. For drivers, their homes will be an important location to charge vehicles. Most fleet operators want to support home charging, but are challenged in how best to handle driver reimbursement. Our award-winning technology offers businesses the simplest solution.”