POWERHOUSE VENTURES INVESTS IN ZETI
POWERHOUSE VENTURES INVESTS IN ZETI
Leading Silicon Valley Seed Fund Backs Pay per Mile Fintech
LONDON, UK and SANTA MONICA, Calif., August 16, 2022 – Zeti, a leading provider of financial services technology to manage consumption based EV and infrastructure financing, today announced a significant investment by Powerhouse Ventures.
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.
Zeti acts as a platform for institutional financiers to invest into clean, connected vehicle fleets through a pay per mile (or km or kWh) model; managing automated payments and real-time financial and sustainability reporting for financiers and fleet operators via its digital platform, ZERO.
“Powerhouse is excited to have made one of our largest investments to date to support Zeti, an innovative fintech with a disruptive business model, said Emily Kirsch, Founder and Managing Partner of Powerhouse Ventures. “Consumption based financing is set to play a major role in the future of mobility, and Zeti’s unique technology provides compelling advantages to both fleet operators and sources of capital, accelerating the growth of EV and infrastructure adoption”.
“We are delighted that Powerhouse has chosen to join existing founder, executive and seed investors to support Zeti’s continued growth” said Dan Saunders, CEO, Zeti. “Already this year committed deployment of EVs to the ZERO platform has more than tripled, with demand from both fleet operators and financiers accelerating rapidly in both Europe and US markets”.
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About Zeti:
Zeti sits at the intersection of fintech, mobility and sustainability, unlocking the potential of technology to revolutionize the financing of transport and support the goals of business and society.
Zeti believes that clean transport will be a new ESG asset class, and that traditional auto finance (>$1tn annual market) is ripe for disruption as leasing companies are removing value from customers, vehicle manufacturers and the primary sources of capital.
About Powerhouse Ventures:
Powerhouse Ventures backs founding teams building innovative software to rapidly transform our global energy and mobility systems. We believe that addressing the climate crisis requires deploying our most viable market-based solutions today.
