7 Generation Capital secures C$8m in Series A financing

Fonds de solidarité FTQ and Siemens Financial Services led the round.

  • The capital infusion will be used to accelerate the deployment of electric trucks and buses through the company’s EV-as-a-service model
  • FTQ has invested in more than 3,400 companies
  • As of May 31, 2022, The Fonds de solidarité FTQ has C$17.4 billion in net assets

7 Generation Capital, a Vancouver-based electric vehicle and charging infrastructure leasing company, has raised C$8 million in Series A funding. Fonds de solidarité FTQ and Siemens Financial Services led the round.

The capital infusion will be used to accelerate the deployment of electric trucks and buses through the company’s EV-as-a-service model.

Last year, 7 Generation raised $20 million in project financing from Spring Lane Capital.

“7Gen’s offerings make it much easier and more predictable for a fleet manager to go ahead with an EV deployment project, and this investment shows a lot of confidence in our approach as we scale up to serve the Canadian and American markets,” said 7Gen CEO and Co-Founder Frans Tjallingii, in a statement. “FTQ and Siemens are established, long-term strategic investors, and we are very proud to have them as partners on our journey.”

FTQ has invested in more than 3,400 companies. As of May 31, 2022, The Fonds de solidarité FTQ has C$17.4 billion in net assets.