Business payments company FLEETCOR Technologies has bought Plugsurfing, a European electric vehicle software and network provider, a press release said Tuesday (Sept. 6).
Plugsurfing provides resources to vehicle manufacturers, charge point operators (CPOs) and fleets. The company has made a proprietary EV charging network with more than 300,000 charge points — over 80% of all of charge points in the region.
The app provides access to comprehensive tariff information, facilitating payment for EV charging. The app also serves CPOs with API, cloud-based operating software enabling CPOs to run hardware efficiently, helping with management payments of charging events.
“The acquisition demonstrates FLEETCOR’s commitment to developing world-class EV solutions for our thousands of commercial fleet customers, including access to European EV roaming capabilities and software applications for drivers and fleet managers,” said Tom Rowlands, global managing director of EV at FLEETCOR. “In addition, Plugsurfing allows us to pursue new customer segments by serving CPOs with software to manage their charging infrastructure and providing OEMs [original equipment manufacturers] with a white-label EV solution. We’re excited to have Plugsurfing join the FLEETCOR family.”
Meanwhile, Tatu Kulla, chief executive officer at Plugsurfing, said the acquisition would help “scale our Plugsurfing platform to better serve existing and future customers on the EV journey that will continue to evolve over time.”
FLEETCOR has also recently acquired Accrualify, an AP automation software company, in August, PYMNTS wrote.
Read more: Business Payments Company FLEETCOR Acquires AP Software Firm Accrualify
It will help FLEETCOR add to its portfolio of payment solutions and its corporate payments capabilities. Accrualify’s services help automate procure-to-pay processes for companies. The cloud-based software allows midmarket companies to access end-to-end procurement, invoice process automation and payments execution.
“The Accrualify acquisition provides workflow and process automation software that AP departments are looking for, and rounds out our ‘process to execution’ AP payment solution set,” said Ron Clarke, FLEETCOR chairman and CEO. “We expect this capability to increase demand and revenue per client for our corporate payments product line.”
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