Zevvy

Zevvy provides a specialized software platform for energy and utility billing. This online solution efficiently calculates service charges for various utilities, including solar power, heating, water, and EV charging stations. Offering white-label services, the company enables partners to integrate the system under their brand, providing flexible, customizable accounting.

Zevvy AG was established between 2014 and 2016 by a team of computer scientists, engineers, and specialists. Their core insight identified a need for simplified, accurate energy accounting, especially for smaller building complexes managing multiple utility types. This team aimed to build a robust system for modern energy service billing.

Zevvy primarily serves property managers, energy service providers, and small building operators seeking streamlined utility expense management. The product simplifies this complex process, enhancing transparency and efficiency in energy cost allocation. The company envisions becoming the essential digital infrastructure for transparent, adaptable energy and utility accounting, supporting evolving energy services.

High-Level Overview

Zevvy was a fintech startup founded in 2021 that built a direct-to-consumer leasing platform for electric vehicles (EVs), offering short-term, pay-per-mile leases to eliminate traditional barriers like mileage caps, three-year terms, and high upfront costs.[1][2] It targeted high-mileage drivers such as commuters and gig workers, partnering with distributors like Nissan, Hyundai, Mitsubishi, and Tesla, as well as Uber, to provide affordable EV access and accelerate adoption while reducing emissions.[2][4] The company raised $5.4M in seed funding in 2022 from investors including MaC Venture Capital, Alumni Ventures, BoxGroup, and Climate Capital, operated a fleet of about 100 EVs in California (primarily the Bay Area), and aimed to scale to 1,000 vehicles with new partnerships like GM and Ford.[1][2][4] However, Zevvy ceased operations in January 2024 and is now listed as dead, with no reported revenue.[1]

Origin Story

Zevvy, formerly known as Flux EV, was founded in 2021 by Andrew Krulewitz, who drew from his background in greentech financing for solar products and energy storage.[1][2][4] The idea emerged from Krulewitz's daily commute in an EV amid heavy freeway traffic dominated by gas vehicles, highlighting the need for accessible options for high-mileage drivers facing rising gas prices and gig economy demands.[2][4] Early traction included a $5.4M seed round announced at its official launch in October 2022, support from the Bay Area Air Quality Management District's Climate Tech Finance program for emission reductions, and partnerships yielding a 100-EV fleet in California.[1][2][4]

Core Differentiators

• Pay-per-mile leasing model: Industry-first short-term leases charged only for miles driven, with low monthly fees, customizable terms, and options to renew or buy at a reduced price after accrued per-mile deductions—saving users money versus traditional loans or leases.[1][2][4]
• EV accessibility focus: Targeted moderate-income, high-mileage drivers (over 13,000 miles/year) underserved by standard EV financing, removing upfront costs and commitments to boost adoption among commuters and gig workers.[2][4]
• Integrated services: Combined leasing with EV charging facilitation and partnerships with major distributors (Nissan, Hyundai, Tesla) and fleets like Uber for seamless user experience.[1][2][4]
• Environmental impact: Projected to cut 494,000 metric tons of CO2 equivalent emissions annually in California by displacing gas vehicles, backed by air quality district funding.[1]

Role in the Broader Tech Landscape

Zevvy rode the EV adoption wave amid surging auto loan debt ($1.43T peak), rising gas prices, and climate tech momentum, addressing financing barriers that limited EVs to affluent buyers despite long-term cost savings.[2][4] Its timing aligned with California's aggressive emission goals and federal incentives like the Inflation Reduction Act, positioning it to influence auto fintech and mobility by proving flexible leases could scale fleet electrification for gig platforms like Uber.[1][3][4] Though short-lived, Zevvy highlighted market forces favoring climate fintech—regulatory support, corporate sustainability pushes, and consumer shifts—paving the way for similar models in auto tech and transportation verticals.[1][3]

Quick Take & Future Outlook

Zevvy's shutdown in January 2024 after just two years of operations underscores the challenges in EV fintech, including high capital needs for fleets and sensitivity to interest rates amid cooling EV demand.[1] What's next is uncertain, as the company is defunct with no revival signals, but its model could inspire successors riding trends like pay-per-use mobility, corporate EV mandates, and AI-optimized fleet management.[1][3] Its influence may evolve through alumni like founder Krulewitz applying greentech lessons elsewhere, amplifying calls for accessible financing in the shift to zero-emission transport—echoing its original mission to make EVs viable for everyday high-mileage drivers.[2][4]