Q Charge, the first project of Meta Mobility Energy, which produces solutions for the electricity and energy needs of the mobility sector, which will turn into a fully electric vehicle ecosystem by 2040, met with investors.
Q Charge, the first project of Meta Mobility Energy, an electric charging station within the body of 1000 Investments Holding, whose company also includes the BinBin brand, went on an investment tour with a funding request of ₺37.5 million on the crowdfunding platform fonbulucu.
Having obtained a Charging Network Operator license from the Energy Market Regulatory Authority (EMRA) in August 2022, it was entitled to operate as a charging network operator throughout the country, and as a result of its initial operations. Q Charge, which has sold and installed 20 devices worth ₺2.9 million in two months, requests ₺37.5 million funds with the supply of 7% of the company shares in the investment tour. Q Charge announced that it will give investors an additional 7% share for investments made with EFT or credit card within the first 10 working days as of Monday, February 27, the start date of the investment round. As a result of the evaluation made by the Ministry of Industry and Technology of the Republic of Turkiye, it has been entitled to incentives and ₺10.3 million support for a total of 73 electric charging units in 19 cities across the country. While there are currently over 90 companies in our country that have obtained this license by meeting the criteria of having at least ₺5 million capital, 50 charging units and system management software and mobile applications of their brands, there are only 18 companies that receive government incentives.
The startup will enable Istanbul to be included in the mobility network of the highway corridor stretching to the West and Central Black Sea, with the units in the incentive regions ready. Predicting that it will install at least 150 charging units and sell 150 charging units in the first half of 2023, Q Charge aims to transfer a budget of $15 million to Meta Mobility Energy as an additional investment as a result of the investment amount that 1000 Investments Holding aims to receive in the third quarter of 2023. In addition, it is planned to transfer a significant amount of the fund to be obtained in the event of a public offering of 1000 Investments Holding in Borsa Istanbul. By increasing its global investments and revenues over the years, Q Charge is determined to reach a 50% global and 50% local ratio in its foreign currency-based balance sheet by the end of 2025.
Electric vehicle charging industry to reach $1 billion in volume by 2030
Speaking about the investment tour, Co-Founder and CEO Kadir Can Abdik said, “As a company, we attach great importance to crowdfunding and see it not only as access to finance, but also as an important opportunity to grow our business with our investors. Our investors, who will invest with crowdfunding, will be early partners in a business model with a significant growth potential by investing in one of the first brands to enter the electric charging field, where demand is increasing day by day with the decrease in the use of fossil fuels. Our company currently has a paid-in capital of ₺5 million. Our investors investing in this round will become partners to the extent that they invest in the entire capital, as well as becoming a part of the electric vehicle charging service and infrastructure sector, which will turn into a market of ₺350 million invested by 2023 and a total of $1 billion by 2030. Investors will have the opportunity to invest in Q Charge, which plans to reach every point in Turkiye, including the global market, by obtaining all its energy needs from green energy sources, with the Altay Energy company established within the holding until 2040.”
Kadir Can Abdik underlined that the expenses of the fundraiser, Magna Mari, MKK and Takasbank will be covered by our company’s equity capital, not the collected investment, within the scope of the investment tour campaign. Investors participating in the campaign will receive a 10% discount from the Q Charge charging network for 1 year, 5% discount for 6 months from Q Charge’s Co-Operator business model, a 5% discount for every Thousand Thousand usage for 1 year, a 5% discount for an investment of ₺1,000 or more, a 7.5% discount for an investment of ₺2,500 or more, and a 10% discount for an investment of ₺5 thousand or more.
Turkiye’s highest amount of demand-based crowdfunding to date is carried out on the fonbulucu platform
Fonbulucu Founder and CEO Hakan Yildiz said, “We are carrying out the largest share-based crowdfunding campaign in Turkiye with ₺37.5 million on our platform. I think we will break a record in the amount of investment and the number of investors. Q Charge produces data-oriented solutions for different problems such as location, installation processes and density, in collaboration with companies specialized in software and data, and carries out data processing studies with the software it has implemented in its own R&D center. We believe that the startup company, which puts its business processes on scientific foundations and thus delivers sustainable energy to electric vehicle users in the most effective way, will be the pioneer, innovative, sustainable and leading brand of this sector. On the other hand, by investing in Q Charge, our investors will become partners not only with a company with operations in Turkiye, but also with an organization with important global goals.”
Source: Egirisim / Prepared by Irem Yildiz