Led · Equity · Jun 2024

Zapmap operates a leading consumer app for EV drivers to search, plan and pay for charging and a growing API and data offering. Its app has over 1.54 million downloads and 860,000 registered users, holding significant market share among the UK's one million battery electric vehicle owners. The company monetizes via a freemium subscription model, media, and payments. Zapmap has launched B2B products: Zapmap Spark (launched in October last year) to integrate Zapmap data into other organisations' digital products, and Zapmap Insights, which leverages the UK's most comprehensive database of public EV charging points to provide data to businesses including the Department for Transport. Zapmap plans to continue focusing on the UK market while expanding its mapping services to the US and other European markets. The company aims to reach breakeven during 2025. Zap-Map offers an app and digital platform that helps EV drivers find charge points, plan longer journeys, pay on participating networks and share live updates with other drivers. Led by CEO Richard Bourne, the company supports a community that adds daily status and information updates and enables peer-to-peer sharing through Zap-Home and Zap-Work. It also sells B2B services including promotion, content, data and market insights. The platform attracts more than 130,000 UK users per month and targets a core user base drawn from roughly 205,000 pure-EVs and 233,000 plug-in hybrids (SMMT: Dec 2020). Zap-Map plans to use recent funding to build out its paid-subscription services, accelerate product development and expand its business abroad. Financially, the company recently completed a priced Series A that provides capital to support these growth initiatives.