loveelectric
loveelectric is a UK-based fintech operating an EV salary sacrifice platform that enables employers to offer employees electric vehicles through pre-tax salary deductions. Founded in 2021, now part of Perkbox, serving 1,500+ UK companies.
- Company typePrivate
- Founded2021
- HeadquartersEdinburgh, United Kingdom
- Headcount11–50
- GTM typeB2B
- OfferingServices
What loveelectric does
loveelectric is a UK-based fintech operating an electric vehicle salary sacrifice scheme platform. Founded in 2021 in Edinburgh, the company enables UK employers to offer their employees access to electric vehicles through pre-tax salary deductions, delivering savings of 30-60% versus traditional vehicle finance. The scheme is cost-neutral for employers, funded through National Insurance Contribution savings, and includes all-inclusive monthly packages covering insurance, maintenance, tyres, breakdown cover, and MOT.
The company's technology stack centers on a proprietary salary sacrifice administration platform with three notable components: (1) the Live Vehicle Stock (LVS) API, developed in partnership with Lex Autolease since October 2024, which integrates with 35+ UK brokers for used EV distribution; (2) the reloved used EV marketplace, making loveelectric the only provider offering both new and used EVs through salary sacrifice; and (3) an Early Termination Protection system (Zero Risk Guarantee) that protects employers from costs if an employee ends a lease early. Supporting products include a Charge Card (virtual Visa via Bypass acquisition), a mobile app, and partnerships with Hypervolt (home chargers), Pod Point (home chargers), and Stark (workplace charging).
Revenue is generated through three streams: monthly per-employee service fees from employers, broker commissions from leasing companies, and partner commissions from charging and insurance partners. The company operates a B2B2C model requiring employer sign-up before employee access, with distribution via direct sales, self-serve platform, broker API integrations, and a partner referral program. Following the 2025 acquisition by Perkbox (UK's largest employee benefits company), loveelectric now serves over 1,500 companies and has access to Perkbox's platform reaching 4 million+ employees and 5,000+ businesses. The company is FCA-authorised (FRN 743264), B Corp certified, and BVRLA-registered.
loveelectric firmographics
Firmographics- Name
- loveelectric
- Legal name
- Love Electric Financial Services Ltd
- Website
- https://loveelectric.cars
- Company type
- Private
- Founded year
- 2021
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- loveelectric is a UK-based fintech operating an EV salary sacrifice platform that enables employers to offer employees electric vehicles through pre-tax salary deductions. Founded in 2021, now part of Perkbox, serving 1,500+ UK companies.
- Ownership category
- akta.pro rank
loveelectric industry classification
Industry- Product category
- EV Salary Sacrifice Services
- SIC
- Services-Auto Rental & Leasing (No Drivers) (7510)
- akta.pro primary industry
- Passenger Vehicle Leasing & Long-Term Rental (Cars/SUVs) (TLABAHAA)
- akta.pro secondary industry
- EV Charging-Integrated Rentals (Bundled Charging, Roaming, Home Charger Add-ons) (THADANAJ)
Keywords
Where loveelectric is headquartered
LocationHeadquarters
- HQ city
- Edinburgh
- HQ country
- United Kingdom
- HQ region
- Europe
Offices1 record
Markets served
loveelectric business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure, Supply Chain
Revenue model
- Service Fee: A monthly service fee paid by the company to loveelectric for each employee lease, covered by the employer's NIC savings, ensuring cost-neutrality for employers.
- Broker Commission: Commission paid to loveelectric by leasing companies (broker fee) based on fixed rate commission for introducing employers to leasing companies, included within total rentals.
- Partner Commissions: Commissions earned through commercial partnerships with insurance and home charging partners (Hypervolt, Pod Point). These do not impact employee salary deductions or employer service fees.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Hybrid | Monthly | No upfront cost - all-inclusive monthly lease payments |
| Usage-based | Monthly | New EVs through salary sacrifice |
Go-to-market motion2 records
Distribution channels4 records
Marketing channels7 records
loveelectric product offering
Product offeringCore offering
loveelectric is an FCA-authorised credit broker that administers EV salary sacrifice schemes for UK employers. Employees of enrolled companies lease new or used electric vehicles with monthly costs deducted from gross salary before tax, achieving 30–60% savings versus traditional finance. All-inclusive monthly packages cover insurance, maintenance, tyres, breakdown cover and MOT, and the Zero Risk Guarantee protects employers against early lease terminations.
Product overview
loveelectric operates as a unified EV salary sacrifice platform with a modular architecture anchored by its core EV Salary Sacrifice Scheme. The core scheme is enhanced by the Zero Risk Guarantee (early termination protection as standard) and the reloved® used EV marketplace (the only leasing provider offering both new and used EVs). Supporting modules include the Charge Card (a virtual Visa card for EV charging payments), the loveelectric Charge App (mobile companion app), Dynamic Deposits (optional deposit feature), and the Calculator tool. Charging solutions are offered as bolt-on modules via partnerships with Hypervolt (home chargers), Pod Point (home chargers), and Stark (workplace commercial chargers). The Live Vehicle Stock (LVS) API, developed with Lex Autolease, enables broker network integration for used EV leasing. Additional engagement tools include weekly webinars and a Partner/Referral Programme. The company operates as a B2B service where employers register their company and employees then select and lease EVs.
Differentiator
Problem solved
Functional benefit
Products and services
- EV Salary Sacrifice Scheme Core product enabling employees of enrolled UK employers to lease new or used electric vehicles through a salary sacrifice arrangement, with monthly costs deducted from gross salary before tax, achieving 30–60% savings versus traditional finance. The scheme is cost-neutral for employers and includes insurance, maintenance, tyres, breakdown cover and MOT in one all-inclusive monthly payment.
- Zero Risk Guarantee (Early Termination Protection) Industry-leading Early Termination Protection included as standard with every lease, providing employers complete peace of mind from Day 1 if an employee needs to end their lease early, with no unexpected costs. Delivered through the Love Electric Protection Services Ltd subsidiary.
- reloved® Used EV Marketplace Used EV marketplace offering carefully selected, quality-assured used electric cars at lower monthly price points through the salary sacrifice scheme, making loveelectric the only UK leasing provider offering both new and used EVs through salary sacrifice.
- Charge Card (Bypass-powered) Pre-paid virtual Visa card (provided via Bypass) that enables employees with a company EV to pay for public and home charging, saving up to 60% on every charge through salary sacrifice. Works with 100% of UK chargers including Tesla Superchargers and bolts onto existing EV salary sacrifice schemes.
- Live Vehicle Stock (LVS) API API product developed in partnership with Lex Autolease enabling used electric vehicles to be leased across the UK's broker network. Over 35 brokers (including Nationwide, DriveElectric and Planet Leasing) have integrated with the LVS API to source used EVs for their leasing customers.
- Partner / Referral Programme Referral programme for brokers, IFAs and other intermediaries to refer clients to loveelectric and earn commission on each EV leased. Partners receive leads, unique tracking codes, comprehensive support materials and dedicated partner support.
Quantifiable outcome
- Employees save 30-60% on EV leasing costs through salary sacrifice
- +4 more outcomes
Companies that use loveelectric
Customer profileNamed customers7 records
Segments2 records
Ideal customer profiles3 records
loveelectric technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature3 records
loveelectric partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered flagship, core and minor.
- Perkboxflagshiploveelectric was acquired by Perkbox, the UK's largest employee benefits company. The acquisition supports loveelectric's growth and complements Perkbox's platform reaching over 4 million employees in the UK. As part of Perkbox, loveelectric can deliver EV salary sacrifice at scale to over 5,000 businesses.
- Lex AutoleasecorePartnership to develop the Live Vehicle Stock (LVS) API enabling brokers across the UK to access used EVs for leasing through the loveelectric network. The API has enabled an additional 600 used EVs to be leased across the broker network.
- StarkcorePartnership to offer workplace EV charging solutions. Stark provides OCPP-compliant commercial chargers (7kW to 22kW) with MID and OZEV approval. loveelectric refers customers to Stark for workplace charging infrastructure.
- HypervoltcorePartnership offering Hypervolt Home 3.0 Pro smart chargers through loveelectric's salary sacrifice scheme. Employees can save up to £500 (~50%) on fully installed home chargers through salary sacrifice.
- Pod PointminorPartnership offering Pod Point home charging solutions with £50 exclusive discount for loveelectric customers. Pod Point Solo 3S chargers available with installation included.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
loveelectric competitors and assessment
Company assessmentOthers
- Perkbox: Perkbox is the UK's largest employee benefits platform and loveelectric's parent company post-2025 acquisition. It is thematically related as the distribution and platform layer that hosts loveelectric's scheme and provides adjacent benefits to UK employees.
Direct peers
- The Electric Car Scheme: The Electric Car Scheme is a UK-focused EV salary sacrifice provider targeting employers seeking to offer electric vehicles as an employee benefit. Direct competitor with overlapping value proposition and customer base.
- Octopus Electric Vehicles: Octopus Electric Vehicles offers EV salary sacrifice and salary exchange schemes to UK businesses, leveraging the Octopus Energy brand. It is a direct competitor to loveelectric in the EV salary sacrifice space with similar target customer and benefit structure.
- Zenith Vehicle Contracts: Zenith is a major UK fleet leasing and vehicle management provider with salary sacrifice offerings. It competes directly with loveelectric for employer EV scheme business and operates at larger scale as a leasing incumbent.
- DriveElectric: DriveElectric is a UK EV leasing specialist and broker. It is both a competitor in the EV lease space and an integrated partner via loveelectric's Live Vehicle Stock API — providing direct comparability on EV aggregation and broking.
- Tusker: Tusker is one of the UK's largest salary sacrifice car scheme providers, offering EVs and ICE vehicles through similar employer-administered schemes. It is the most direct comparable to loveelectric in product, target customer (UK employers), and business model (credit broker/admin).
Broad incumbents
- Arval UK: Arval is a global fleet leasing and mobility player with a significant UK presence and EV salary sacrifice offerings. As a broad incumbent, it competes across the wider fleet/employee vehicle scheme market in which loveelectric operates.
- ALD Automotive / LeasePlan: ALD Automotive (now combined with LeasePlan) is one of the world's largest fleet leasing and mobility providers with strong UK operations. A broad incumbent offering overlapping fleet and EV scheme capabilities, though not a pure-play salary sacrifice specialist.
- Lex Autolease: Lex Autolease is the UK's largest vehicle leasing company and a strategic technology partner of loveelectric (co-developer of the LVS API). It operates broadly across fleet leasing with EV offerings, providing both partnership context and competitive benchmark.
Emerging players
- Bypass: Bypass is an EV charging payments platform acquired by loveelectric in June 2025. It provides salary sacrifice-integrated EV charging payment solutions — adjacent technology that loveelectric has now vertically integrated into its offering.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key highlights7 records
Customer concentration
loveelectric social profiles
Digital presenceloveelectric compliance and trust
Trust signalCompliance6 records
loveelectric financial estimates
Financial estimateRevenue estimate
Valuation estimate
loveelectric leadership team
Management profileNumber of profiles
Profiles3 records
loveelectric subsidiaries and ownership
Company hierarchySubsidiaries1 record
loveelectric funding detail
Funding detailFunding overview
Funding rounds2 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
loveelectric M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about loveelectric
What does loveelectric do?
loveelectric is an FCA-authorised credit broker that administers EV salary sacrifice schemes for UK employers. Employees of enrolled companies lease new or used electric vehicles with monthly costs deducted from gross salary before tax, achieving 30–60% savings versus traditional finance. All-inclusive monthly packages cover insurance, maintenance, tyres, breakdown cover and MOT, and the Zero Risk Guarantee protects employers against early lease terminations.
Is loveelectric a public or private company?
loveelectric is a private company. It is classified as corporate owned and is currently operating.
When was loveelectric founded?
loveelectric was founded in 2021. It employs 11 to 50 people.
Where is loveelectric based?
loveelectric is headquartered in Edinburgh, United Kingdom, in the Europe region.
How does loveelectric make money?
Three revenue lines are on record. Service Fee is the primary driver. The others are broker Commission and partner Commissions.
Who are loveelectric's main competitors?
Perkbox is listed as an others. Direct peers are The Electric Car Scheme, Octopus Electric Vehicles, Zenith Vehicle Contracts, DriveElectric and Tusker. Broad incumbents are Arval UK, ALD Automotive / LeasePlan and Lex Autolease. Bypass is listed as an emerging player.
Does loveelectric have an API?
Yes. The Live Vehicle Stock (LVS) API, developed in partnership with Lex Autolease since October 2024, enables used electric vehicles to be leased across the UK's broker network. The API has facilitated approximately 600 additional used EVs leased through the broker network, with over 35 brokers (including Nationwide, DriveElectric, and Planet Leasing) having integrated with the LVS API.
What industry is loveelectric in?
loveelectric's product category is EV Salary Sacrifice Services. Its primary akta.pro industry code is TLABAHAA, Passenger Vehicle Leasing & Long-Term Rental (Cars/SUVs), with a secondary code of THADANAJ, EV Charging-Integrated Rentals (Bundled Charging, Roaming, Home Charger Add-ons). Its SIC code is 7510.