EV charging operator Bump unlocks $180 million

French startup Bump has signed a multi-year financing partnership with DIF Capital Partners in order to roll out more charging stations for electric vehicles.

The deal is an equity and quasi-equity deal that will be unlocked over the course of 15 years. ZePlug focuses on partnerships with residential and office buildings while announcing a significant investment yesterday.

A capital intensive business model is what Bump operates with. By the end of the year, the company plans to have 2,000 charging stations shipped.

There is no upfront cost for their partners if bump funds is used to install new charging stations. The company takes care of maintenance and operations after that. The cut on kWh will cover the investment costs and create revenue for the company.

It can take up to 10 or 15 years before a charging station makes money. An infrastructure company is a long-term business.

There are two kinds of clients. It works with retailers, malls, hotels and other companies that own parking space to create charging stations for anyone looking for one.

It works with businesses that need to switch to electric vehicles. They have their own charging spots for their cars. Star Service, TopChrono, Stuart, Europcar and Zity are some of the clients.

Franois Oudot, co-founder and CEO, told me that he compares the offerings of his company and that ofSalesforce. You can either purchase a server or pay a monthly subscription.

Electric vehicles can be expensive to switch to. Electric vehicles are more expensive than gas vehicles. You have to pay for the installation of charging stations.

Logistics companies don't usually invest in vehicles. If they don't have to manage their charging stations, many companies choose to lease cars and pay a bit more to charge them.

The company installs charging stations for big construction companies. A team is able to remotely monitor charging stations. If it's a hardware issue, third-party companies can be contacted 24/7.

There will be 25,000 charging stations by the year 2030. A lot of people will be hired by the startup.

The image is called "bump."