FleetCor has made a follow-on investment in EV charging payment business Mina, helping to drive further developments.

FleetCor’s follow-on investment in Mina bolsters the commercial partnership between the two companies

Founded late 2019, Mina’s ‘EV Fuel Card’ charging solution integrates with home and work charging points throughout the UK to accurately capture energy costs and reimburse drivers’ energy provider direct.

This significantly simplifies the expense reimbursement processes for fleets, as recognised in the 2021 Great British Fleet Awards, when Mina took the Innovation in Electric Vehicles accolade.

Since its initial investment in Mina, FleetCor, parent firm of Allstar as well as The Fuelcard Company, Keyfuels and r2c, is actively providing the Homecharge platform under the Allstar HomeCharge brand to commercial fleet customers transitioning to EV, creating an holistic fleet and fuel payment solution.

It’s now ramped this up, bolstering the commercial partnership between the two companies. The follow-on investment provides Mina with the capital to scale its product offering more quickly, while also improving access to home charging for existing FleetCor customers and fleets across the UK.

FleetCor UK said that adding Mina Homecharge to the Allstar Home & Work Charging product gives fleet managers access to an holistic EV solution to effectively manage their transition to EV.

“We are seeing an increasing number of fleets beginning their transition to mixed EV / fossil vehicles, and our innovative integrated product offering with Mina leverages our respective strengths and is proving to be a compelling proposition for our customers,” commented Alan King, FleetCor group president, Europe & Australasia.

Ashley Tate, Mina co-founder and CEO, said the latest investment would help drive its work to build an industry-leading payment solution to enable businesses to pay for charging their EVs at home, work and on the road.

“Businesses are under increasing pressure to decarbonise their fleets and our award-winning technology offers businesses the simplest solution to solve the very complex challenge of paying to charge EVs. It’s clear the demand for Mina’s products is here today and growing. This investment enables us to meet that demand and scale at a significant pace.”