Further growth of the company’s fleet is being financed by a £550m credit line secured from Lloyds Bank in December.
Fiona Howarth, chief executive of Octopus EV, said: “Demand for EV leasing continues to grow and the finance sector is ready to back the transition.
“We have more than tripled our fleet in the last year, and the growth continues as we see record numbers of drivers switching to clean, green driving.”
Octopus EV has grown from having 600 cars in 2021, to 6,000 as recently as last April and 14,000 today.
It reported revenues of £37m in the year to April 2023, up from just £5m in 2022.
In a bid to offer lower-cost vehicle options to drivers, the company also expanded its fleet to include used EVs in December.
Ms Howarth said she expected the company’s fleet mix to move from being less than 5pc used cars currently to as much as 50pc.
