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Bump’s fundraising goals

Interview with François Paradis, co-founder and COO of BUMP, by Tesla Mag, October 6, 2022

In the newer but high-profile world of electric charging stations, despite its “shock” name, BUMP was until very recently considered a low-key start-up. Like most of its competitors, the company is very young: it was only created last year by two co-founders, both named François (Oudot and Paradis), with the aim of accelerating the energy transition and the decarbonisation of mobility. But she surprised everyone with a huge fundraising of €180 million!

An assumed goal: to support professionals in the decarbonization of their fleets

Surfing new rules imposed by the LOM Act, particularly in relation to the renewal of corporate fleets and the development of ZFEs, the two Françoiss have structured their project by focusing on supporting professionals in greening their fleets in the heart of the city. The purpose of the founders of Bump is actually tohelp professionals accelerate and succeed in their energy transition by offering them turnkey solutions that integrate all services, from the charging station to the tools to analyze their fleet and the financial tools to support them. this recharge operator installs, operates, maintains and monitors its terminals and markets a recharge service.

Behind this goal, the founders’ conviction that it is through professional fleets that the decarbonization of mobility will be most effective: 50% of CO2 emissions from mobility come from professionals. Bump also extends its service to B2B2C by supporting real estate companies in equipping car parks in business areas.

Bump targets two segments: professional private terminals and public terminals in business areas.

Bump therefore offers two types of charging stations: private stations intended exclusively for professional customers on their websites, and shared stations open to the public (pro and general public), which can be reserved for professional users at certain times. The goal is to optimize the charging network so that it is used as best as possible. Bump sees these two offerings as complementary.

Launching a startup for professionals is always a challenge: it means offering impeccable service, both technically and in customer service. Bump therefore wants to distinguish itself through the quality and availability of its service.

In just over a year, Bump has made great progress and quickly convinced top logistics and mobility references to trust it to recharge their fleet (Zity, Star Service, Top Chrono, etc.) and has installed several charging hubs in the heart of the city in Paris or Lyon, and surprised everyone by announcing one fundraising of 180 million euros last monthto finance its massive implementation!

€180 million collected from DIF’s infrastructure fund, a vision of a long-term leader: “humble but very ambitious”…

The originality of this construction is that it was drawn up with an infrastructure fund, DIF, therefore with a long-term vision. This massive charge now makes Bump one of the players in reloading the most prominent in the national territory !

The investment is dedicated to three main points:

  • a massive rollout of the terminal network,
  • “in-house” technological development to differentiate itself from its competitors, especially for professional fleets (tools and services for users),
  • and finally Bump’s internal needs to ensure this growth with more than 100 planned recruitments. This boost also includes an international expansion to two other European countries from 2023.

A massive implementation plan…

First focused on Paris and then Lyon, Bump aims to have 300 charging points in operation by the end of 2022, and a strong acceleration in 2023, with 10 times more installations, and a gradual expansion of the coverage of the charging station network to the largest French cities. The goal for 2030 is 15,000 active charging points, an ambition from the founders, who summarize their project: “Humble, but very ambitious”!

A charging service open to all and containing prices at public terminals

All Bump public terminals are equipped with a TPE that allows a payment by credit card or via QR code. In addition, Bump, which already offered an application, has just launched an enriched V2 to support its customers in their journeys (route planning, planning trips and recharges, etc.). Bump’s charging service is of course available to its roaming customers at all terminals associated with Giveve in France and abroad. For professional private terminals, they are equipped with RFID readers, which allow users to “pay” with their badge.

Finally, in terms of pricing, Bump strives to offer contained charging prices (Price per kwh: 35 eurocents in AC and 45 eurocents in DC on the Bump app), and has entered into an agreement to supply electricity at a fixed price that covers it against any increase in its wholesale electricity purchase costs until 2024. Something to reassure its current and future customers…

We therefore wish Bump and its friendly team the best of luck in securing this massive implementation, and we look forward to seeing you in a few months to take stock!

Thanks again to François Paradis for his availability and this interview.

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