Demand that isn't propped up
BEV share of new registrations hit 49% in H1 2026, third highest in Europe — and it got there after every purchase and installation subsidy had been withdrawn. That's a market that won't reverse when an incentive lapses.
Business Finland positive Eligibility Statement · Diary No. 1198/1/2025
EV Share Hub Oy · Business ID 3639738-8
Funded to profitability on €170,000 — without a pre-seed round.
€50,000 of paid-in equity is already on the balance sheet. A €100,000 Business Finland Sprint Grant is non-dilutive and both eligibility gates are cleared. A €20,000 Finnvera entrepreneur loan follows. That capital takes the platform to positive EBITDA in a single metropolitan area — before a single city outside Finland.
€2.49M
Year 3 marketplace volume, capital region only
29×
Revenue growth, Year 1 to Year 3
20.3%
Year 3 EBITDA margin
€19,090
Year 2 cash trough — the lowest point before self-funding
Investor snapshot
Where EV Share Hub stands today
A quick-reference view, pulled straight from the 2026 business plan. Nothing below is a projection unless it says so.
Testing
Android app built and in internal testing, ready to lodge
164,705
Battery EVs in Finland, end-2025
351,744
Plug-in fleet — 13% of all Finnish cars
49%
BEV share of new registrations, H1 2026, no subsidy
1.36M
Apartment households with no charging option
18 / 0
Registered FI charging operators / offering peer-to-peer
85 / 15
Host / EV Share Hub session split
€5.50
Host net earnings per 35 kWh overnight session
40% / 53%
Hosts willing to share / drivers willing to use (Finland survey)
€50k
Paid-in equity already on the balance sheet
3 + 2
Co-founders plus salaried team members
0
Pilot partnerships signed; 20-charger pilot planned
Market opportunity
A structural gap, in one of Europe's most EV-mature markets
Finland's EV adoption is self-sustaining rather than subsidy-driven — and the supply that could serve 1.36 million car-less-charging households is already sitting idle in private driveways.
| Tier | Definition | EV Share Hub scope |
|---|---|---|
| TAM | All EV charging spend across Finland and the wider European market | Full public and private charging market across Finland and Europe |
| SAM | EV charging spend addressable by a peer-to-peer marketplace model | Sessions that could plausibly move to a private charger given location and driver behaviour, concentrated in dense apartment-heavy metro areas |
| SOM | Realistic 3-year capture given team size, capital and go-to-market pace | Helsinki–Espoo–Vantaa capital-region rollout |
Spot pricing makes host margin visible
Near-universal spot-price electricity contracts keep a host's marginal cost low and legible (Nord Pool FI area price averaged €40.5/MWh in 2025) — an advantage the peer-to-peer model simply doesn't get in flat-tariff markets.
The window is open now
The host pool is finally large enough to support a marketplace, but no incumbent has built the peer-to-peer layer on top of it — and the regulatory work that layer requires hasn't been started by any of them.
Competitive moat
Why incumbents can't just copy it
- Two-sided network effects. Value to a driver grows with nearby hosts, and value to a host grows with active drivers. A software vendor's single-building customer base doesn't solve that cold start.
- Regulatory architecture, not just software. VAT intermediary structuring, DAC7 reporting and MID metering assurance took real design work; a guest-access toggle doesn't clear it.
- Host liability insurance. Replicating it means running an insurance programme, not flipping a feature flag.
Named honestly
Watch-list risks
- Established operators adding a sharing feature — particularly Monta, which already has software relationships with charger owners.
- Wallbox makers extending guest access. Zaptec, Easee and similar manufacturers could add native guest-sharing to their own apps; EV Share Hub's cross-brand aggregation is the main defence against the market fragmenting by brand.
- Speed of execution and first-mover host density in the capital region remain the most direct defence while the structural advantages compound.
Business model
Commission-only on the core session
No subscription, no minimum, no membership tier. That's a deliberate simplification from an earlier tiered model — it keeps both sides' economics transparent and immediate from the first session.
| Revenue stream | Mechanism | EV Share Hub's share | Priority |
|---|---|---|---|
| Session commission | 15% of every completed charging session | 15% | Primary |
| Reserved booking | Optional slot held in advance for the driver | 100% | Secondary |
| Fleet and business accounts | Consolidated billing for company vehicles | 100% | Growth |
| Data and utilisation insight | Aggregated and anonymised, for energy retailers and municipalities | 100% | Future |
Reserved Booking and Fleet accounts are 100%-EV Share Hub-share because they are platform conveniences layered on top of the charging session, not a share of the host's electricity sale.
Unit economics — one 35 kWh overnight session
Roughly 4.7 hours at 7.4 kW, a typical home wallbox rate, priced at the €0.38/kWh Finnish median DC rate.
| Line | Amount | Note |
|---|---|---|
| Driver pays | €13.30 | 35 kWh at €0.38/kWh |
| Host receives (85%) | €10.64 | Automatic via Stripe Connect |
| Host's own electricity cost | –€5.14 | Spot-contract marginal cost ≈ €0.147/kWh |
| Host net margin | €5.50 | On an otherwise idle asset |
| EV Share Hub commission (15%) | €2.66 | Deducted from the session |
| Less VAT (25.5%) | –€0.54 | On the commission only |
| Less card processing | –€0.45 | ≈3.4% of the transaction |
| EV Share Hub keeps | €1.67 | Net of VAT and processing |
Three-year model
Helsinki, Espoo and Vantaa only
Before any expansion to a second Finnish city or a second country. Year 1 runs August 2026 to July 2027 and is modelled around a Q4 2026 public launch, with volume accruing month by month from the launch ramp rather than a flat year-end charger count.
| Metric | Year 1 | Year 2 | Year 3 |
|---|---|---|---|
| Listed chargers | 150 | 700 | 2,000 |
| Active drivers | 89 | 950 | 2,600 |
| Charging sessions | 6,396 | 68,400 | 187,200 |
| Energy delivered (kWh) | 223,860 | 2,394,000 | 6,552,000 |
| Marketplace volume | €85,067 | €909,720 | €2,489,760 |
| Paid to hosts | €68,053 | €727,776 | €1,991,808 |
| EV Share Hub revenue (net of VAT) | €13,556 | €144,975 | €396,775 |
| Operating costs | €166,875 | €180,746 | €316,346 |
| EBITDA | –€153,319 | –€35,771 | +€80,428 |
Marketplace volume and EV Share Hub revenue
Total value transacted through the platform, with EV Share Hub's own net revenue shown inside each bar.
Marketplace volume (paid to hosts + commission)
EV Share Hub revenue, net of VAT
EBITDA — two loss-making investment years, then profit
Breakeven arrives partway through Year 3, at a 20.3% margin on €2.49M of volume.
Investment phase
Approaching breakeven
EBITDA positive
Path to profitability — simplified cash walk
| Line | Amount | Cumulative cash position |
|---|---|---|
| Opening capital | €170,000 | €170,000 |
| Year 1 EBITDA | –€153,319 | €16,681 |
| Year 2 EBITDA | –€35,771 | –€19,090 (trough) |
| Year 3 EBITDA | +€80,428 | +€61,338 |
How to read these numbers. This is a simplified EBITDA-based cash walk, not a full cash-flow statement — it ignores working-capital timing, VAT settlement lag and grant drawdown schedule, so treat it as a planning approximation rather than a bank-ready forecast. The Year 1–Year 2 loss path and the Year 3 breakeven remain modelling assumptions, not validated outcomes; every figure traces to an input cell in the accompanying financial model so it can be stress-tested against the pilot's real conversion data once that exists. The Q4 2026 launch date is aggressive; a slip into Q1 2027 would compress the same Year 1 ramp into fewer months rather than change the targets.
The ask
€170,000 of total company capital — deliberately non-dilutive
Grant funding and a state-backed loan layered on top of paid-in founder equity, rather than an external pre-seed round. That keeps founder ownership intact through the capital-region launch and lets EV Share Hub demonstrate real Finnish usage data before any dilutive raise is considered.
| Source | Amount | Status |
|---|---|---|
| Paid-in cash equity | €50,000 | In place on the balance sheet |
| Business Finland Sprint Grant | €100,000 | Applying — both eligibility gates cleared |
| Finnvera Entrepreneur Loan | €20,000 | Planned Q3 2026 |
| Total company capital | €170,000 | Funds the platform to profitability |
| Finnish Startup Grant (Starttiraha) | €8,880 | Applying — paid to the founder personally |
The Sprint Grant is a non-repayable de minimis grant at a 75% funding rate on a €133,333 project, with up to 70% payable in advance. Starttiraha is €740 a month over 12 months, paid to the founder personally, and is shown outside company capital because it never enters the company account. None of these amounts are treated as committed until confirmed in writing by the respective agency.
| Use of funds — Year 1 | Budget |
|---|---|
| Team — two founders, full-time on payroll | €50,000 |
| R&D services — session assurance, regulator opinions, DAC7 build | €45,000 |
| Marketing & host recruitment, both sides of the market | €30,000 |
| Legal & compliance — formation, GDPR, DAC7, contracts | €15,000 |
| Host liability insurance — cover for every host | €12,000 |
| Cloud & software — OCPP backend, hosting, monitoring | €6,000 |
| Accounting & admin — bookkeeping, audit, statutory filings | €6,000 |
| Total | €164,000 |
The two founders drawing salary are expected to be the CEO, already Finland-resident, and the CTO — on the basis that the pilot phase needs both external-facing regulator engagement and platform delivery.
The Business Finland Sprint project
The grant funds five months of genuine research: establishing what energy a session delivered from charger telemetry alone, predicting availability for chargers that publish no data, modelling host cost against hourly spot prices, and securing written regulator positions from Tukes and Traficom.
| Sprint project line | € |
|---|---|
| Founder salaries, R&D portion | 18,750 |
| Indirect personnel and overhead | 10,500 |
| Purchased R&D services | 45,000 |
| Cloud, data feeds, software | 5,000 |
| Pilot instrumentation and field validation | 54,083 |
| Total eligible project | 133,333 |
| Grant at a 75% funding rate | 100,000 |
Self-financing of €33,333 is covered by the equity already on the balance sheet.
Traction & milestones
What exists, and what doesn't
Separated deliberately from the projections above, so nobody has to work out which is which.
| Milestone | Status | Detail |
|---|---|---|
| Android app | Built · testing | Covers referral, messaging, incident reporting, security deposits and analytics. Not yet publicly downloadable. |
| Internal test transactions | Complete | Full booking, payment, dispute, rating and host-payout flow validated end to end. |
| Founding team | Complete | Three co-founders (CEO, CFO, CMO) plus two salaried team members (CTO, COO). Full profiles. |
| Paid-in equity | €50,000 | On the balance sheet, contributed by the three co-founders. |
| Business Finland Eligibility Statement | Received | Positive statement, Diary No. 1198/1/2025 — team, business model and growth potential qualify under the Startup Permit pathway. |
| Sprint Grant eligibility | Gates cleared | Both eligibility gates cleared; application in progress. |
| Business plan and financial model | Complete | Three-year projections and use-of-funds detail, with every figure traceable to a model input cell. |
| Regulatory groundwork | Designed | VAT structuring, MID metering approach and DAC7 mechanism designed; written regulator positions targeted for the Q3 2026 pilot. |
| Host liability insurance programme | Not yet secured | Budgeted at €12,000 and targeted ahead of the Q3 2026 pilot. |
| 20-charger Helsinki pilot | Not started | Planned for Q3 2026 — the proof point for onboarding speed and session-assurance methodology. |
| Finland market launch | Not started | This plan's funding is sized specifically to fund a dedicated Finland entry, starting in Helsinki. |
| Market research | Two survey runs | 104 responses in other European markets; a separate Finland-specific survey still running. |
Stated plainly: there are no public Finnish usage numbers, registered users, completed public sessions, retention figures or gross marketplace volume to report. The app hasn't launched on the Google Play Store and hasn't been marketed to real Finnish drivers and hosts. That's what the Q3 2026 build-and-validate phase and the planned Q4 2026 Helsinki launch are there to start.
Risk analysis
The risks we're actually watching
With indicative likelihood and impact, and the mitigation built into the operating plan.
| Risk | Likelihood | Impact | Mitigation |
|---|---|---|---|
| Slow two-sided growth if host and driver acquisition aren't balanced | Medium | High | Community and partnership-led acquisition to build host supply ahead of driver demand campaigns |
| Incumbent response — a network launches its own P2P offering or prices aggressively | Medium | Medium | First-mover position, community pricing advantage, and host density built before incumbents react |
| Regulatory change on charging infrastructure, energy resale, metering or platform liability | Low–Medium | Medium | Architecture already designed; dedicated legal/compliance budget; metering rules tightening from October 2028 already on the roadmap |
| Board residency — Finnish Oy law generally requires an EEA-resident board member | Low–Medium | Medium | The CEO is already Finland-resident and a plausible board candidate, subject to confirming the EEA test with Finnish counsel |
| EV market speed — slower adoption or policy volatility delays growth | Medium | Medium | Diversified revenue streams and a multi-country path reduce dependence on any single adoption curve |
| Host onboarding speed slower than the growth bridge assumes | Medium | Medium | OCPP-native onboarding needs no installation or site visit; the 20-charger pilot exists specifically to test real onboarding speed first |
| Low booking frequency — listed chargers see poor utilisation | Medium | Medium | Host utilisation tracked as a core metric; pricing guidance and search ranking nudge hosts away from listing and forgetting |
| Insurance / liability — property damage or an electrical incident during a session | Low–Medium | High | Terms of service defining liability allocation before public launch; €12,000 budgeted, targeted in place before the first pilot session |
| Payment fraud — stolen cards, chargeback abuse, fraudulent accounts | Low–Medium | Medium | PCI-DSS-compliant gateway with authorisation-then-capture; dispute SLA and rating thresholds flag suspicious accounts |
| Taloyhtiö restrictions — a housing company bylaw restricts third-party charger use | Medium | Medium | Property partnerships engage the housing company directly; listings in restricted buildings are flagged for the host to confirm permission |
| Team composition — two of the five (CTO, COO) are salaried rather than equity co-founders | Medium | Medium | All five profiles complete, including direct P2P EV charging operating experience from the CEO; team-member retention without equity remains a factor to monitor |
| Financial model risk — the loss path and Year 3 breakeven are assumptions, not outcomes | Medium | Medium | Every figure traces to a model input cell, allowing scenario stress-testing against the pilot's real conversion and session data |
SWOT summary
Strengths
- Asset-light — no hardware, no network, no inventory
- Regulatory architecture already solved: metering, VAT, DAC7
- Host liability insurance, which no peer platform provides
- Both sides economic on the very first session
- Equity paid in and Sprint eligibility already cleared
- A co-founder with direct prior P2P EV charging operating experience
Areas we're building
- Two-sided liquidity — met by concentrating on one metro area
- Brand awareness from a standing start
- Small team — met by software-only, self-serve onboarding
- Host support for less technical users
Opportunities
- 1.36M apartment households and rising BEV share
- No peer-to-peer operator anywhere in the Finnish market
- European capitals share the same housing and wallbox pattern
- Fleet and business accounts as a second demand channel
- Workplace charging taxable from January 2026 unless metered
Watch list
- Established operators adding a sharing feature
- Wallbox makers extending their own guest access
- Metering rules tighten from October 2028 — already on the roadmap
- Housing companies retrofitting charging at scale
Path to return
Consolidation, not IPO
Recent sector activity supports acquisition as a credible outcome rather than a hopeful assumption. The alternative — and not mutually exclusive — path is continued independent growth funded by a future Series A once the network and the profitability trajectory are demonstrated with real data.
European charging incumbents are already buying
- Virta (Helsinki) acquired Swedish EV fleet-software company Northe in August 2025 — Finland's own largest charging-software company actively acquiring complementary capability rather than building every layer in-house.
- Fortum sold a majority stake in its European charging operator Recharge to Infracapital in 2020 — European charging-infrastructure consolidation is an established pattern, not a one-off.
- Monta is a plausible acquirer of a proven host network precisely because its own model — selling software to owners — stops short of operating a marketplace.
Payments and mobility players too
- Nayax acquired AI-enabled EV charging software company Lynkwell for $25.9 million in cash plus an earnout, December 2025.
- Einride acquired OCPP-based charging-software startup Flipturn in an all-stock $38 million deal in July 2026, extending its EV-charging ecosystem without building the software layer itself.
- Applied to EV Share Hub, the most probable acquirers are European charging incumbents seeking a peer-to-peer supply layer and host network, or payments/fintech platforms expanding into mobility.
Want the full plan and financial model?
The complete 2026 business plan, the three-year model with every line as a formula, and the regulatory documentation are available to serious counterparties on request.
Data sources
EV fleet and registration data: Traficom (end-2025) and AFIR National Access Point via Fintraffic (registered operator count, measured July 2026). Housing stock and apartment-household data: Tilastokeskus (end-2023). Electricity spot price: Nord Pool, FI area, 2025 average €40.5/MWh. Tax, VAT and DAC7 guidance: Vero.fi; Finnish act 1267/2022. Metering law: mittauslaitelaki 707/2011, administered by Tukes. Funding programme terms: businessfinland.fi and Finnvera. Sector M&A precedent: Charged EVs, Nayax/Lynkwell, TechCrunch.
EV adoption, charging-price and spot-electricity data in this sector move monthly. Figures on this page reflect the 2026 business plan and should be re-verified against each organisation's latest published data before formal submission or investment decisions. This page is an informational summary, not an offer of securities or an invitation to invest.