Charging Ahead to Acquisition: How EV Connect Built Scale-Ready and Futureproof Financial Operations

Background 

Founded in California in 2009, EV Connect pioneered the electric vehicle charging infrastructure space by developing an agnostic, cloud-based platform that bridges the gap between charge station managers and users across multiple charging networks. 

As California led U.S. EV adoption, EV Connect was perfectly positioned for explosive growth. But with millions in active contracts and rapid scaling, their part-time accountant couldn't keep pace with increasingly complex financial operations. In May 2016, EV Connect partnered with Lisa Moise of SPRCHRGR to engineer a financial foundation that could supercharge their growth trajectory. 

This tech-forward accounting and finance partnership proved transformational — supporting EV Connect through three consecutive years as an Inc. 5000 honoree (2020-2022) and culminating in their strategic milestone: acquisition by Schneider Electric in 2022. 

Challenge 

EV Connect faced the classic scaling dilemma: their financial operations were becoming too complex for basic bookkeeping, but they weren't ready for a full-time, in-house finance team. They needed sophisticated financial engineering across multiple disciplines — Controller functions, Financial Analysis, and strategic CFO guidance — all while maintaining the agility of a growth-stage company. 

"One person typically can't do all those things efficiently and effectively," says Jordan Ramer, EV Connect CEO. "What was compelling about SPRCHRGR was that they were able to do an assessment of our requirements and charge us a flat fee on a per-month basis according to what we needed. And as we needed more, they added those resources on a timely basis." 

With millions in pipeline projects, custom equipment, and active field installations, cash flow management became mission critical. The company also faced complex compliance challenges as they expanded beyond California, particularly around sales tax nexus for their combined hardware-software-service offerings. 

"We had a spiky level of cash-flow activity," explains Ramer. "Being able to watch that was critical." 

Solutions 

SPRCHRGR engineered a comprehensive solution that evolved with EV Connect's needs, providing elite expertise without the full-time employee commitment. Our fractional team stepped in and ensured the company could maintain sufficient funds for payroll and equipment purchases by negotiating with vendors and deferring certain expenses. 

Strategic Leadership & Cash Flow Engineering 

Lisa Moise, SPRCHRGR Client CFO, provided onsite strategic guidance while our operational team handled day-to-day accounting remotely. Our top priority: creating an accurate, weekly 13-week cash flow forecast that gave EV Connect's leadership team the visibility needed to make confident decisions about resource allocation and growth investments. 

We optimized cash flow by strategically negotiating vendor terms and timing expenses, ensuring EV Connect could consistently meet payroll and equipment purchase obligations despite the "spiky" revenue patterns typical of project-based businesses. 

Sales Tax Compliance & Multi-State Expansion 

As EV Connect expanded beyond California into markets like New York, we navigated the complex sales tax landscape for their hybrid hardware-software-service model. Our team: 

• Mapped sales tax nexus requirements across expansion states 

• Registered EV Connect as a reseller in New York and other key markets 

• Filed proper returns before compliance issues could emerge 

• Prevented costly bureaucratic tangles that could have disrupted growth 

 
Financial Infrastructure Transformation 

We helped futureproof EV Connect's financial operations by: 

• Systematizing Core Processes:

  Migrated from manual spreadsheets to integrated QuickBooks Online workflows, handling all accounts payable, banking, payroll, and commission processing with audit-ready precision. 

• Banking Platform Optimization:

  Identified limitations in their retail banking setup and implemented commercial banking solutions with remote deposit capabilities, wire transfer functionality, and significantly reduced foreign exchange fees as international transactions scaled. 

• Carbon Credit Asset Management:

  Under California's Zero Emissions Vehicle (ZEV) program, we implemented procedures to properly capitalize and value EV Connect's carbon credits, creating an additional asset that immediately increased book equity value. "They weren't valuing the carbon credits, and they didn't show revenue for earning them on the books," says Moise. "We did a valuation and set up a schedule to capitalize them, which immediately increases the company’s book equity value." 
  
  

Growth-Ready Financial Reporting 

We established board-ready KPI packages and standardized financial reporting that positioned EV Connect for investor and acquirer due diligence. Our team completed comprehensive accruals cleanup and multi-year reconciliations, ensuring the company's books were audit-ready and transparent for strategic reviews. 

Platform Maturity Milestone 

When EV Connect launched their API Platform in October 2021, enabling custom applications and enterprise integrations, SPRCHRGR aligned billing and revenue recognition processes to support this evolution — another indicator of the operational maturity we helped engineer. 

Outcomes 

Our partnership delivered measurable results that directly supported EV Connect's strategic success: 

• Weekly 13-week cash forecast cadence established with board-ready KPI reporting 

• Sales tax nexus compliance across multiple states with resale registrations and proper filings 

• Banking infrastructure optimized for scale with remote capabilities and reduced fees 

• Carbon credit capitalization creating immediate equity value 

• Due diligence-ready financials accelerating investor and acquirer review processes 

"Lisa quickly grasps our business and its issues," says Ramer. "She can do everything from being a strategic partner to drilling down and getting into the weeds when necessary. So we haven't had to train different individuals who don't know our business." 

SPRCHRGR has also accounted for accruals and made sure the company's records from prior years are audit-ready, too. Says Ramer, "That was a real value-add." 

Fully-Charged and Futureproofed  

EV Connect's rapid growth has propelled it toward a new round of funding. Here again, SPRCHRGR has kept pace, providing third-party due diligence and reconciliations on EV Connect's books.  

In the end, that's what SPRCHRGR does: Add value beyond standard accounting services. "EV Connect is growing fast, and we're helping them manage their priorities," says Moise. "We try to be a partner, not just a service provider." 

Having the support of a capable team led by someone of Moise's caliber has helped EV Connect live up to its tagline: Charge Forward. "If you throw something at Lisa, she'll figure it out by leveraging internal resources or talking to the right people," says Ramer. "Then she comes back with recommendations on how to address the problem. That's certainly made my life easier." 

The comprehensive financial foundation we built enabled EV Connect to drive Inc. 5000-level growth and ultimately achieve its strategic exit to Schneider Electric — a testament to the power of forward-thinking financial engineering. 

Ready to supercharge your growth trajectory? SPRCHRGR's tech-forward accounting and finance engineers help scaling companies transform their financial operations into competitive advantages. Whether you're preparing for rapid growth, investor due diligence, or strategic exit, we provide the expertise and systems you need to charge ahead with confidence. 

Schedule a call to discuss how we can engineer your financial success.