Radius Payment Solutions has taken a strategic stake in Chargepoint Europe B.V. to help meet fast-growing demand for electric vehicle charging.

Bill Holmes, CEO, Radius Payment Solutions, said the tie-up with ChargePoint Europe B.V. will give Radius a strong position right at the heart of Europe

Details of the transaction have not been revealed but Radius said it would combine its sales and marketing expertise with Chargepoint’s range of charging units, accelerating growth of the network into new markets and advancing the technology.

Based in Zevenaar near Arnhem, Chargepoint has developed a wide range of high-speed commercial units, currently used by customers including major hotel chains, commercial property companies, car sharing companies, universities and local government.

It’s the latest new business move for Radius, which was founded by CEO Bill Holmes as a fuel card company in 1990 but now provides an array of products and services including telematics, telecoms and insurance, boosted by a number of recent acquisitions. These include business telecoms provider Reliance Network as well as telematics firm Sure-Trak and Key Telematics, expanding its telematics work, while it also acquired commercial insurance broker The Burley Group last year. Radius now offers a wide package of products and services for fleet operators and has 23 offices in more than 15 countries worldwide.

Commenting on the firm’s move into electric vehicle charging, Bill Holmes commented: “This is a really exciting step for Radius into the world of e-mobility, which is becoming an increasingly important sector. As the sales of electric vehicles continue to accelerate over the decade ahead there is going to be a huge demand for charging units and network access. This acquisition will give Radius a strong position right at the heart of Europe. Chargepoint has a great team and we look forward to partnering with them to accelerate growth, as well as investing in further technological developments over the forthcoming years.”

Hans Loohuis, managing director of Chargepoint Europe, added: “Radius adds unique expertise in expanding across international business markets. As we are entering the next growth phase across different countries, this will enable us to set the pace in providing smart charging solutions to meet the needs of a broader range of clients.”