45. Zeti – making the switch to EV fleets affordable for businesses

Founders: Dan Saunders and Daniel Bass
Founded: 2020
Website: zeti.group

For business owners reeling from all-time high overheads, migrating to an all electric fleet may feel like a daunting prospect. Sure, there’s a saving to be had given the eye-watering fuel costs of recent years. But, the initial spend on replacing a diesel or petrol fleet with EVs or low-emission vehicles could break many a small business.

Enter Zeti. The company’s founder and CEO Dan Saunders, who formerly worked in institutional investment management, understood that transport was the biggest emitter of pollution in the UK. At the same time, he knew that there was demand from investors to fund sustainable assets other than solar, wind and battery storage projects. 

Saunders strongly believed that if a financing model for the uptake of electric vehicles could be developed that was more flexible and data driven, then business users would jump at the opportunity.

If it can be measured, Zeti can show it in real-time

Of course, car financing is nothing particularly new. But, the Zeti team saw an opportunity for making it more approachable than ever, with a bite-size plan. Unlike traditional fixed financing, Zeti offers fleet operators the chance to make their repayments on a pay-as-you-use basis.

This flexible financing model supports businesses looking to switch to zero and ultra-low-emission vehicles in a cost-efficient way that aligns with their cash flow. In effect, it’s a Transport as a Service (TaaS) provider, leading the way for commercial switching towards EV fleets.

By using real-time telematics data, via its proprietary platform the Zeti Hub, detailed insights into vehicle health, usage, and residual value can be provided. All of this helps to cut down administrative costs for both fleet operators and lenders.

With over £7m in funding raised to date, Zeti has attracted backing from prominent firms including Toyota Ventures, HYCAP and Powerhouse Ventures, all of whom are focused on advancing sustainability and clean transport solutions.

Commenting last June when HYCAP’s £5m contribution towards Zeti’s Series A round was announced, Scott Lanphere, HYCAP’s Chief Investment Officer, was effusive about the potential of the business. 

“If it can be measured, Zeti can show it in real-time,” Lanphere said. “Its platform has applications well beyond mobility and brings the energy transition space into sharper focus.”

With its unique combination of fintech know-how, data-driven insights, flexible financing and a focus on sustainability, Zeti has the tools, the backing and the mindset needed to help tackle the climate crisis and accelerate the adoption of clean transport solutions.