The Electric Car Scheme (ECS) has expanded its funding agreement with Triple Point’s Private Credit team to accelerate EV take-up in the UK.

The newly structured revolving credit facility will enable investment for continued growth, product innovation and strategic expansion.

Founded in 2020, The Electric Car Scheme specialises in EV salary sacrifice schemes and currently serves thousands of employers and hundreds of thousands of employees across the UK.

The company also offers salary sacrifice for EV charging through The Charge Scheme solution, supporting those who cannot charge their EV at home, and is planning to launch sal-sac solutions for employees to pay for home heat pumps in the near future.

The newly structured debt facility builds on an earlier revolving credit facility and follows ECS’s successful Series A funding round in August 2024. ECS continue to deliver against their strategic plan, delivering a strong trading performance, underpinned by strategic investment in scaling operations and expanding its market footprint.

Both Triple Point and ECS are also certified B Corporations, underscoring a values-aligned partnership focused on long-term sustainability and responsible practices.

Sean Brophy, chief commercial officer at Triple Point Private Credit, commented: We’ve built a strong, long-term relationship with ECS, and this facility reflects our confidence in their operational maturity and growth trajectory.”

Thom Groot, CEO of The Electric Car Scheme, added: “Triple Point has been a valued long-term partner in our journey. Their understanding of our business and mission has helped us scale with confidence. As a fellow B Corp, their commitment to responsible finance aligns closely with our values, and we’re excited to continue building on this partnership as we expand our impact.”