loveelectric.cars has received over £1 million in seed funding along with a Scottish EDGE prize. The Edinburgh-based Fintech provides low cost leased electric company cars.
The cost of leasing through loveelectric.cars is said to be around 50% less than if the car were leased directly and far less than buying new. The savings are possible because of a government tax break designed to encourage EV take-up.
Scottish EDGE is a competition that identifies and supports Scotland’s start-ups. Funded by the Hunter Foundation, the Royal Bank of Scotland, the Scottish Government, Scottish Enterprise, and private donors, it has to supported 395 early-stage Scottish businesses since inception.
Steve Tigar, founder and CEO of loveelectric.cars, commented:
“We’re absolutely thrilled to have been recognised by the Scottish EDGE judges, following a highly competitive application process and assessment. It’s also fantastic that this prize follows on from loveelectric.cars winning the Digital Start-up of the Year at the ScotlandIS Digital Technology Awards in May.”
loveelectric.cars has previously raised £925,000 from Techstart Ventures, Marchmont Ventures and investors Stephen Garland, the former Chief Technology & Product Officer for Trustpilot – and Bill Dobbie, the serial entrepreneur and investor. Together with the Scottish EDGE award, loveelectric.cars has raised to over £1 million.