ELECTRIC leasing broker specialist WeVee has successfully secured outside backing of $14m, in addition to its Seedrs investment round, which raised over £1.5m.
With such investment in the bank, Paul Fagan – the founder of the electric leasing platform – plans to take the brand global as an eMobility lifestyle platform.
The backing for the broker’s worldwide expansion and diversification was orchestrated by German-born international business leaders, Rahmyn Kress and Michael Perschke. Both now join WeVee founder Paul Fagan as co-founders and board members to drive the platform’s expansion and operations beyond the UK.
Fagan says WeVee will launch first in Germany later this year before moving into France, Italy and Spain in 2022, as Europe grows to displace China as the largest electric vehicle market. The company will also diversify into commercial vehicles, motorbikes and scooters as well as related services including insurance.
Former chief digital officer at Henkel and experienced entrepreneur Rahmyn Kress said:
Michael Perschke, who has a CV that includes senior roles at Mercedes, Audi and Mitsubishi. and more recently the founder and CEO of Automobili Pininfarina, said:
“WeVee is set to become a real game changer – if we build out the model as we intend to, we will help companies provide easy and cost-effective e-mobility solutions to their employees, as well as tracking and improving their carbon footprint.”
Paul Fagan added: “Making the switch to electric should be easy, not hard, and while leasing isn’t new, there was simply nowhere for customers to go for EVs. We launched WeVee to bring all options into one place, letting customers browse, compare and shop with ease.
“Given the pace of change of battery technology and fluctuating new car prices it’s risky to be an asset owner of an electric vehicle. But so many people want to be part of the e-revolution. We are making that happen.”
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.