Andersen EV successfully raised £300,000

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Successfully funded

Capital at risk

overfunded

Andersen EV

196%

Raised: £587,600

Investors: 656

Target: £300,000

Equity: 12.83%

Pre-money valuation: £4,000,000

Andersen EV has established itself as a premium provider in the fast-growing Electric Vehicle home charger market. With a ten-fold increase in sales from Q2 2018 compared to Q2 2019 and a third of all sales in the last 3 months alone, the business returns to Crowdcube to accelerate their growth.

Electric vehicle UK registrations up 236% in September 2019
Up to 10.5 million Electric Vehicles (EV) expected in the UK by 2030
Andersen press coverage in The Times, Mail online, BBC London
Customers love Andersen: 5* google reviews, 'Great' Trustpilot

Idea

The problem

The battery-electric vehicle market is exploding; current global value was $118 billion in 2017 and is projected to reach $567 billion by 2025.

Yet, despite being a mission-critical item for EV owners, we believe customers are often stuck with plastic, utilitarian charging points.

The Andersen difference

Andersen plugs the gap by creating smart, powerful and customisable charging points that customers are happy to use at home. Our A2 charger is the only charger that stores and hides your cable.

Our complete end to end solution includes a high-level installation service that has enabled us to secure key manufacturing partnership deals.

The Andersen Kønnect mobile app gives customers regular over-the-air updates so their charge point improves over time.

Government tax changes to the Benefit in Kind (BiK) means electric cars become income-tax-free for company car drivers from April 2020.

The Road Ahead

We need to scale-up production to meet demand. In September we secured contracts as the recommended provider for two premium car manufacturers.

We aim to increase our profit margin and scale manufacturing capability. Last 12 months: £509k revenue/-£759k EBITDA. Last 6 months: £306k revenue/-£259k EBITDA).

We want to deliver a faster and even better service and expand our team to consolidate our reputation as a premium charging solutions provider, and widen our product offering.

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