THE owners of the Allstar fuel card and Allstar One Electric fuel card, FLEETCOR, have taken a minority stake in Mina, a cloud-based digital software platform for simplifying charging and payments management.
The Mina platform integrates with home and work charging points to accurately capture energy costs. It means the EV tech start up is now worth £6m, up from £2m a few months ago.
It allows EV drivers to receive credits payment for energy used while charging at home for business purposes to their energy provider. It smoothes the expense reimbursement processes and makes paying for EV re-charging accurate and easy for employers and employees.
FLEETCOR says it can now provide the Mina solution to fleet customers transitioning to EVs.
FLEETCOR is in the business of solving and simplifying complex payment and logistics problems for customers of all sizes. The move to EVs is just the latest business challenge facing commercial fleets. Mina’s solution provides an effective and efficient means of tracking charging, simplifying payments and streamlining reimbursement, initially for our UK customers for EV charging needs, regardless of location.Alan King, group president, Europe & Australasia, FLEETCOR
Ashley Tate, Mina co-founder and CEO, added:
By 2025, 75% of all EVs will be owned by businesses. For drivers, their homes will be an important location to charge vehicles. Most fleet operators want to support home charging, but are challenged in how best to handle driver reimbursement. Our award-winning technology offers businesses the simplest solution.”
Ralph Morton is the leading journalist in the leasing broker sector and editor of Broker News, the website which provides information and news for BVRLA-registered leasing brokers. He also writes extensively on the fleet and leasing market in both the UK and Europe.