Monta raises 80 million euros in new financing round

The charging platform Monta has completed a series B financing round totalling 80 million euros. With the capital now totalling 130 million, the Danish company wants to double the number of employees, invest in product development and expand the partner network.

Energize Capital led the financing round together with GreenPoint Partners and Denmark’s State Export and Investment Fund. Existing investors Headline, byFounders, AENU and Creandum, as well as new investor Quantum Light, also contributed.

“Monta is accelerating the electrification of mobility through its EV charging platform, which serves hardware manufacturers, operators, businesses and EV drivers with one integrated software solution,” the company writes in its press release. Monta sees itself as “the de facto hub for simplifying and streamlining the deployment, use, and management of EV charging infrastructure for businesses and operators.”

The platform also supports hardware manufacturers in optimising their products by enabling benchmarking of charging stations, providing insights into usage and performance and shortening the time from troubleshooting to maintenance. In addition, Monta allows users to charge at more than 600,000 charging points in Europe.

In terms of turnover, Monta increased its “annual recurring revenue (ARR)” by 600 per cent last year. The Danish company did not go into more detail about turnover. Thanks to the opening of branches in Paris and Barcelona, Monta also launched in two new markets (France and Spain). Monta partly achieved this growth thanks to collaboration with several partners, including Siemens, EGG, Rolec and Uno-X, who rely on the Monta platform. They can use it to manage their fleets and charging stations at home and at work and utilise the roaming network.

Regarding the German-speaking region, Monta expects an increase in annual recurring revenue (ARR) of 156 per cent this year. The number of charging points operated with the Monta software will be up 155 per cent in Germany, Austria and Switzerland by 2024.

Monta now intends to use the capital raised to invest more in product research and development and further expand its partner network in all markets. As mentioned, the number of employees will also be doubled. The Danish company already succeeded in almost doubling the number of employees last year.

monta.com