A fund managed by DIF Capital Partners is buying Plugit Finland a Finnish electric vehicle (EV) charging infrastructure company.

The manager said its DIF Core Infrastructure Fund II (DIF CIF II) fund has agreed to buy a 71% stake in Plugit. Financial details were undisclosed.

Plugit was founded in 2012. The company has an installed base of 4,000 charge points.

Supported by DIF CIF II, Plugit will expand its charging-as-a-service (CaaS) product and plans to build out the amount of infrastructure that it funds and owns.

Willem Jansonius, partner and head of investments for the DIF CIF strategy, said: “DIF believes that the electrification of transportation will play a critical role in reducing carbon emissions.

“We are excited to invest in such a well-established EV charging company, in order to speed up the rollout of charging infrastructure across Finland and abroad.”

Tommi Saarela, CEO of Plugit, said: “Partnering with DIF will enable us to meet our strategic objective of ten folding our business by 2025.

”DIF will provide us, not only the growth equity, but substantial financial resources enlarging and scaling up our CaaS services in Finland and other markets.”

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