WeVee Raises $7M Seed Funding

WeVee, a London UK-based electric vehicle leasing platform, raised $7M in seed funding.

The round – which will take WeVee’s combined valuation to over $40m – was led by German entrepreneurs Rahmyn Kress and Michael Perschke, who joined WeVee Founder Paul Fagan as co-founders and board members.

The company intends to use the funds to expand its eMobility lifestyle platform into Germany and Europe later in the year. 

WeVee provides an EV price comparison and leasing platform to support demand for electric vehicles. WeVee offers motorists a comprehensive range of vehicles, price comparisons, and finance packages – along with independent advice and guidance when choosing an electric car. Its range spans a wide range of more than 50 models across 30 brands, from household names like Tesla, Mercedes, and Jaguar to insurgent brands including Polestar and Rivian. Its best-sellers are the Tesla Model 3, Audi e-Tron, and Jaguar I-Pace.

The company will launch in Germany later this year. Kress and Perschke bring the necessary connections to Europe’s leading players in the automotive sector, as well as to a collective of European leaders and collaborative industry partners. This will then be followed by WeVee’s expansion into France, Italy, and Spain in 2022. The platform’s offering will also diversify to include commercial vehicles, motorbikes, and scooters as well as related services including insurance.