POD Point to use latest crowdfunding to develop new products
The company, which has previously used crowdfunding to raise capital, has raised £1,515,250 on Crowdcube for its ‘Electric Equity’ campaign, running a dual campaign with both an equity and mini-bond component. The campaign has seen 456 investors pledge anything from £20 to £500,000.
The “Open Charge” mini bond campaign exceeded its target of £250,000 a few days prior, raising £269,750 to finance the initial rollout of its next generation public charging network, POD Point Open Charge. Enough has been raised to rollout around 200 new EV charging bays across the UK.
Both the bond campaign and equity campaign are now in overfunding on the Crowdcube site, which means they are still open to investment.
Erik Fairbairn, CEO and founder of POD Point, said: “We’re thrilled that the crowd continues to get behind our crowdfunding campaigns, and with Electric Equity we have seen the largest amount of investors for any campaign so far. What this means for the public is that we can get closer to fulfilling our promise of having a ‘top up’ charge point anywhere where people park for an hour or more. Electric cars are without a doubt the future of driving, and we are proud to be raising awareness of clean tech and helping to create a cleaner environment for everyone.”