Charging point supplier POD Point has launched a crowdfunding plan with aims to raise £1.75 million from two different schemes. The first, labelled Electric Equity, will allow investors to own shares in POD Point and is looking to bring in £1.5 million, with the remaining £250,000 expected to come from the Open Charge Bond.
POD Point has used crowdfunding before, raising £1.5 million in 2014 to dramatically increase the company’s expansion. Now with more than 20,000 public and private charging points created, the company is looking to grow further. The Electric Equity proposal will see money invested in all areas of the business while the Open Charge Bond is raising funds specifically to increase POD Point’s open charging bays.
The plan is to see the current 90 points expand to 290 from the investment, which will help contribute to the company’s plans of “a POD Point everywhere you park for an hour or more”.