Zeti, a provider of financial services technology to manage consumption-based EV and infrastructure financing, has netted an investment from Toyota Ventures.
According to London-based Zeti, the significant investment was made through Toyota’s Climate Fund.
Zeti acts as a marketplace for institutional financiers to deploy capital into clean, connected vehicle fleets through a pay-per-mile model. The company manages automated payments and real-time financial and sustainability reporting for financiers and fleet operators via its digital platform, ZERO.
Zeti is helping forward-thinking fleet operators convert to electric vehicles by making it as simple, easy and transparent as paying for any other utility; while enabling institutional financiers to generate attractive risk-adjusted returns in a new clean asset class comparable to an investment in renewable energy.
Toyota Ventures climate fund partner Lisa Coca said, “Commercial fleet vehicles account for a disproportionate percentage of emissions, so the transition to widespread electrification is critical. Zeti’s fintech platform serves as an important bridge between fleet operators and sources of capital by using real-time data to enable pay-as-you-drive financing.
“Consumption-based financing is set to play a major role in the future of mobility, and we are proud to support Zeti’s highly capable team as they work to accelerate the adoption of zero and ultra-low emission transport at scale.”
Dan Saunders – Zeti CEO – added, “We are delighted that Toyota Ventures has chosen to join Powerhouse and our existing seed investors to support Zeti’s continued growth. Committed deployment of EVs to the ZERO platform has more than quadrupled this year, with demand from both fleet operators and financiers accelerating rapidly in both Europe and US markets”.
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