BBVA Finances EV Charging Company Wallbox’s Growth Plans with €25 Million

BBVA and Wallbox, a leading provider of electric vehicle charging and energy management solutions, have signed a financing agreement worth €25 million. The aim of the agreement is to support Wallbox’s growth plans, and the transaction was carried out through BBVA Spark, a unit created to support technology-based companies. This deal has been structured using a venture debt model, which will allow Wallbox to increase its liquidity while limiting dilution for its shareholders. BBVA Spark considers this deal to be one of the most significant to date, along with the $20 million agreement recently signed with Tuhabi in Mexico. As a result, BBVA Spark has strengthened its client portfolio to over 500 companies in Spain and Mexico, where it has already provided approximately €200 million in financing.

Resource: https://esgnews.com/bbva-finances-ev-charging-company-wallboxs-growth-plans-with-e25-million/

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