Burges Salmon guides electric car scheme investment

Burges Salmon, a leading independent UK law firm, has played a pivotal advisory role in securing a significant new investment for The Electric Car Scheme, an electric vehicle (EV) salary sacrifice provider. The investment round was led by 13books Capital, a UK-based venture capital firm, with contributions from Triple Point Ventures, Seedcamp, Adjuvo, Ascension, and Bayern Kapital, underscoring strong investor confidence in The Electric Car Scheme's growth and future potential.

The Electric Car Scheme’s unique offering enables UK businesses to provide electric vehicles to employees through salary sacrifice, an approach that has contributed to an impressive 160% year-on-year growth rate. This financing will enable the company to scale its operations to meet rising demand for both new and pre-owned electric vehicles, expand its technology investments, and accelerate efforts toward broader Net Zero goals. The increased funding will also allow the company to expand its product innovation and develop additional offerings that simplify and promote the transition to carbon-neutral transportation.

Burges Salmon’s Corporate and M&A team, led by partner Alex Lloyd and associate Niall Mackle, with support from solicitor Manahil Qadir, advised on the transaction. This collaboration represents a continuation of Burges Salmon's ongoing support for The Electric Car Scheme; the firm previously advised on both a £2.5 million seed funding round and an asset-backed lending arrangement, underscoring a well-established relationship.

Niall Mackle, who is based in Edinburgh, highlighted the firm's dedication to the business’s growth. “The Electric Car Scheme has transformed from start-up to scale-up, thanks to innovative leadership and consistent support from forward-thinking investors,” Mackle noted, adding that the team is proud to support a company that plays an essential role in promoting sustainable practices in the UK.

Thom Groot, Co-Founder and CEO of The Electric Car Scheme, expressed enthusiasm for the partnership with Burges Salmon and the firm's new investors. “Our mission to make Net Zero both achievable and affordable is now within reach for more people, thanks to the guidance from Burges Salmon and the commitment of our investors,” Groot said, highlighting Burges Salmon's clear and practical legal support as invaluable since the company’s early days.

Burges Salmon’s Corporate practice is known for handling high-value transactions across multiple sectors, combining sector expertise with a strong focus on sustainable business practices. The firm’s international work supports UK clients expanding globally and assists international businesses establishing a presence in the UK, making it a valuable partner in high-growth sectors like EV and Net Zero initiatives.