Technology

Electric car club secures £500,000 equity funding

E-Car Club, one of Britain’s only electric-only pay-per-use vehicle clubs, has won £500,000 from Ignite Social Enterprise.

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E-Car Club, one of Britain’s only electric-only pay-per-use vehicle clubs, has won £500,000 from Ignite Social Enterprise.

Technology

Electric car club secures £500,000 equity funding

E-Car Club, one of Britain’s only electric-only pay-per-use vehicle clubs, has won £500,000 from Ignite Social Enterprise.

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E-Car Club, one of Britain’s only electric-only pay-per-use vehicle clubs, has won £500,000 from Ignite Social Enterprise.

E-Car Club won seed investment a year ago through crowdsourcing platform Crowcube, and further investment from business angels in mid-2013.

It provides an alternative to car ownership and it says it saves money because the running costs of an electric fleet are less than a petrol-powered one.

The company was founded in 2011 and aims to offer easy, affordable access to low carbon transport for both businesses and communities.

“We want to improve mobility on a local level whilst simultaneously reducing both the cost and environmental impact of each journey taken,” said Christopher Morris, co-founder.

Ignite is a ‘social impact’ fund backing targeting energy-saving start-ups and small businesses. It is backed by Centrica plc.

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Electric car club secures £500,000 equity funding

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