Sheffield electric vehicle charging software firm Mina acquired by global payment company Fleetcor UK

After a successful investment and two-year partnership, Fleetcor, parent company to Allstar, has acquired the Yorkshire business.

Allstar, which provides fuel payment systems for businesses, notes that the acquisition: “reinforces" its commitment to supporting the transition to electric vehicles.

Ashley Tate, CEO and co-founder of Mina, said: “In less than three years we’ve seen Mina grow from an idea to enabling some of the largest fleets in the UK to transition to EVs.

"None of this would have been possible without the support from Fleetcor, who have believed and invested in Mina since we first came under their radar back in 2021. I’m extremely excited to continue this journey with the Fleetcor team.”

Mina Homecharge, also branded as Allstar Homecharge, aims to allow commercial fleets to replace their employee reimbursement processes for home EV charging with a more accurate and controlled alternative.

The deal follows Fleetcor’s recent acquisition of Plugsurfing and investment in Zap-Map.

The shareholders of Mina were advised by a team from Clarion including Sarah Harrison and Santino Stifanelli.

Alan King, group president, Global Fleet at Fleetcor, said: “Our goal is to provide companies of all sizes with a better way to pay. In the fleet space specifically, this acquisition means that our customers can now benefit from a full suite of payment and reporting solutions, regardless of the type of fleet they operate.”