Tap Electric raises €4 million to make EV charging cheaper

Tap Electric, a company developing electric vehicles (EVs) charging software, has raised €4 million. The funding round was led by No Such Ventures, with participation from existing investors Shamrock Ventures, Fair Capital Impact Fund, and LUMO Labs.

Tap's charging app and management platform use electricity price fluctuations to make charging cheaper. With AI built directly into the driver experience, the app guides private and business drivers towards the cheapest moments and places to charge. This funding will support Tap's expansion in the Netherlands, Belgium, the United Kingdom, and Ireland.

A new solution for cheaper charging

"We’re obsessed with making charging cheaper and more accessible for everyone. Our technology serves drivers, but also owners and operators of chargers and large fleets. By looking at the whole picture, we deliver on that promise every day," said Nico Spoelstra, co-founder and CEO of Tap Electric.

Spoelstra founded the company, headquartered in Amsterdam, with Dan Pezim. As EV charging veterans, they started the company to make charging easier and cheaper.

“Our job is to orchestrate supply and demand at home and in public, pushing down prices for drivers and making sure we can make the switch to electric mobility on a global scale ultimately,” said Pezim.

Tapping into the future

Thijn van Helvoirt, Partner at No Such Ventures and founder of the electric shared mobility company Check, brings extensive experience in scaling e-mobility businesses. He joins Alef Arendsen, founder of NewMotion a successful e-mobility founder and partner at Shamrock Ventures, on the company’s board. Van Helvoirt points out the company's rapid growth and its long-term view of the market: "Tap understands that winning the EV charging market is not about individual transactions. It is about giving real people access to the lowest total cost of energy while making better use of existing infrastructure."

The participation of existing investors in this new round is another testament to the company’s strong performance and potential. LUMO Labs Founding Partner Sven Bakkes states, “We’re excited for this follow-on investment. Tap Electric team is making a massive impact on many levels, and their goal is straightforward: make charging cheaper for drivers while making better use of the electricity infrastructure that already exists.”

In addition, the new funding will support a series of initiatives designed to further align charging demand with available energy supply. These include several vehicle-to-grid projects, where car owners can help stabilize the grid and make a profit; smart home integrations that connect charging with household energy systems; open smart charging for public infrastructure; and new driver experiences that reduce complexity by helping users make better charging decisions automatically.