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Osborne Clarke advises WeVee Global in connection with $7M seed funding round to support global expansion


Written on 30 July 2021

International legal practice Osborne Clarke has advised newly formed WeVee Global, led by two leading German entrepreneurs, in connection with the latest investment injection into WeVee, the first fully-integrated electric vehicle leasing platform, which launched in the UK (home to Cazoo, Cinch, and Carwow), to support the expansion of the eMobility lifestyle platform into Germany and Europe later in the year. WeVee is now valued at $14million.

The EV price comparison and leasing platform, which launched in March 2020 to support fast-growing demand for electric vehicles, and attracts up to 100,000 UK visitors per month, has taken its first steps towards becoming a global e-mobility lifestyle platform and marketplace, after WeVee Global closed a pre-seed round comprising a line-up of top European angel investors, industry leaders, and global tech entrepreneurs.

The backing for worldwide expansion and diversification was orchestrated by German-born international business leaders, Rahmyn Kress and Michael Perschke, who join WeVee Founder Paul Fagan as co-founders and board members to drive the platform’s global expansion and operations in all markets beyond the UK.

WeVee will launch in Germany later this year in a move which is designed to support innovation and entrepreneurship between the UK and continental Europe, unhindered by Brexit. Kress and Perschke bring the necessary connections to Europe’s leading players in the automotive sector, as well as to a collective of European leaders and collaborative industry partners. This will then be followed by WeVee’s expansion into France, Italy, and Spain in 2022.

The Osborne Clarke team was comprised of Partner Ken Wilkinson, Senior Associate John Jarvis, Senior Associate Jas Singh and Associate Alec Bartlett.

Osborne Clarke’s Corporate team is a go-to practice for companies in the Tech, Media and Comms Transport and Automotive and Energy and Utilities sectors. Its clients range from global businesses to fast-growth start-ups and market challengers. The team advises at every stage of company development across all corporate issues, from equity and debt fundraisings to M&A, IPOs and JVs.

In addition, the team has extensive expertise advising companies on decarbonisation related projects. These include electric vehicles where the team has an in-depth knowledge of supporting energy systems and smart infrastructure solutions.