Spring Free EV Announces New Round of Financing To Further Expand Access to Long-Lived Electric Vehicles for Commercial Fleets and Rideshare Drivers

SFEV Secures Additional $13M of Credit Financing from Two Asset Investors

Boston — February 3, 2026 — Spring Free EV (SFEV), a first-of-its kind lending platform for commercial fleet owners and drivers, announced today it has received a new round of financing to further expand operations. The additional capital will support its expansion in the light-duty commercial fleet market, providing proven, long-lived battery electric vehicles (BEVs) to last-mile delivery operators and rideshare drivers through innovative vehicle leasing solutions. Spring Free EV is actively serving both markets, with a range of leasing options designed to help customers capture the economic and operational benefits of BEV adoption.

The company has received $13M in financing from two asset finance providers, alongside additional corporate equity from existing investors. In addition to locking in key strategic partnerships, this capital enables Spring Free EV to offer both traditional leases for small business fleets like last-mile delivery, as well as a “drive-to-own” leasing product aimed at rideshare drivers. That program allows drivers to gain vehicle ownership while also building credit over time.

“The additional asset financing we have secured from our partners will enable Spring Free EV to expand our leasing platform across the U.S. Our mission is to make commercial vehicle financing more accessible and economically viable for the people and businesses that rely on them every day,” said Rob Day, CEO of Spring Free EV. “By combining the advanced data capabilities, lower maintenance and longer lifespans of battery electric vehicles with innovative financing, across a wide range of commercial and vehicle categories, we’re helping fleets and drivers lower operating costs and build long-term value.”

Spring Free EV has already launched operations in Miami, Houston, and Northern New Jersey, with planned expansion into Atlanta, Chicago, and both Northern and Southern California in the coming months. Last September, Spring Free EV announced it had received a new round of equity financing of $7.2M from Spring Lane Capital and named private equity veteran Rob Day as CEO. In addition to Spring Lane, Spring Free EV’s early investors include leading tech pioneers Reid Hoffman (LinkedIn), Ev Williams (Twitter), and other tech luminaries.

About Spring Free EV

Spring Free EV is a first-of-its kind lending platform for fleet owners and drivers. We offer specialty financing and operations support to the commercial market, helping fleet owners and drivers benefit from the inherent efficiencies and cost advantages of BEV ownership. Our innovative AI-enabled financing model takes into account the “total cost of ownership” advantage and other unique operational benefits that only BEVs can offer, so we can offer optimized financing options. Learn more at www.springfreeev.com.

Media Contact:
Cindy Stoller
Confluence Partners
917-331-0418
cstoller@confluencepartners.com