Pod Point, an issuer that raised capital, totaling £3.71 million, multiple times on Crowdcube with offerings in 2015, 2016 and 2017, has been sold to EDF. Without revealing details, Crowdcube reported that early “investors via the platform will see positive returns on the initial investment.” The company also said that EDF tops AB InBev’s £85 million acquisition of Camden Town Brewery – another Crowdcube issuer.
The EDF acquisition was said to be part of the French company’s strategy to become a leading operator in electric transport and to strengthen its commercial EV offering for residential and business customers.
Erik Fairbairn, CEO and Founder, Pod Point commented on the news:
“Crowdcube has been vital in fuelling Pod Point’s growth. Without that initial investment in 2015, where we had the backing from our core community via Crowdcube, it would have been impossible to leap to the next stage of scaling our business. Our shareholders believed in our vision that travel shouldn’t exacerbate carbon emissions and I’m delighted we can repay them with a return on their investment.”
Pod Point was founded in 2009. Fairbairn saw an opportunity in electric vehicles setting a goal of wiring up the UK with charge-points to facilitate the switch from internal combustion engines to electric vehicles.
Pod Point’s journey with Crowdcube started in 2015 when the company raised £1.8m.
Today Pod Point installed over 62,000 charge-points in the UK. Pod Point also has 6,600 charge-points in Norway.
Luke Lang, co-founder and CMO of Crowdcube said Fairbairn’s vision and determination inspired hundreds of people to invest in Pod Point:
“I’m delighted for Pod Point and its shareholders, who will receive a healthy return from their investment following the sale to EDF.”
Crowdcube reports that since launch in 2011, investors have “had the opportunity to realize over £40 million in returns from their investments.”
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