Hill Dickinson advises EV technology software business Mina on follow-on investment by US giant Fleetcor

Sheffield-based electric vehicle (EV) tech business Mina Digital Ltd has successfully secured follow-on investment from US giant Fleetcor Technologies in a deal that promises to be a game-changer for the British firm.

The deal follows an initial SEED funding investment in the company by Fleetcor, a global leader in business payment including payment cards and e-payables, in April 2021. 

Mina was founded in 2018 with a clear mission to accelerate the transition from petrol and diesel to electric vehicles by simplifying the way drivers of commercial fleet vehicles pay for EV charging.

The company’s innovative charging solution allows fleet vehicles to be charged both at home and on the road, with only one simple bill for the fleet owner. Mina pays energy providers direct for energy used by drivers while charging at home. On the go, they can use the Mina Chargepass to access thousands of public charge points across the UK, making payment for EV charging transparent, accurate and easy for employers and employees alike.

Mina was advised on the deal by law firm Hill Dickinson’s Corporate team, led by Leeds-based partner Sandip Khroud assisted by senior associate Rebecca Bennett, associate Natalie Hong and paralegal Hamzah Mahmood. The firm’s London-based head of Commercial and TMT, partner Mark Weston, advised Mina on the commercial aspects of the transaction.

Commenting on the deal, Sandip Khroud said: “Ashley Tate, Chris Dalrymple and Andy Gunn, the three founders of Mina Digital, developed a solution very early on to address potential barriers in convincing commercial fleet owners to switch to electric vehicles. As with all innovators, their timing was key. Fleetcor’s follow-on investment in Mina Digital announced this week is evidence of that and will allow the company to accelerate its growth across the UK as the market for EVs continues to grow. We were delighted to work with Mina on this cross-border deal and wish them and their investors every success in taking the company forward.”