Curo

What do they actually do

Curo runs a marketplace and operations layer that lets commercial fleets rent access to existing EV chargers and parking stalls during idle periods (for example, at offices overnight). Fleets book “virtual depot” capacity instead of building and operating their own sites; Curo handles vetting, contracts, insurance, scheduling, billing, and 24/7 support so the host and the fleet don’t have to stand up new infrastructure or bespoke agreements Curo site.

On the ground, drivers park at a host site, plug into the host’s chargers, and charging/payment is authorized via Curo’s integrations with charging‑management platforms. Public announcements show integrations with AmpUp, SWTCH, Emobi, Monta, and Epic, which provide network access, reservations/authorization, and payments support across heterogeneous hardware AmpUp | SWTCH | Emobi | Monta | Epic. The company markets this as a distributed “Virtual Depot” and reports “5k+ fleet vehicles placed” and “500k+ parking & charging assets listed” as current company claims on its homepage Curo site.

Who are their target customer(s)

• Distributed commercial fleets (last‑mile delivery, field service, mobile technicians): They need predictable overnight/depot‑style charging at many endpoints but lack time/space/budget to build dedicated chargers at each location; they need reliable places to park and charge instead Curo site.
• Small‑to‑mid sized fleet operators piloting electrification: Their pilots are delayed by upfront capex, site work, and utility timelines; they want to avoid installing and managing chargers themselves Curo site.
• Fleet operations managers at larger companies: They need scheduling, billing, uptime and legal/insurance controls across many third‑party sites and vendors; stitching together reservations and payments across heterogeneous chargers is error‑prone.
• Office buildings, parking‑lot owners and property managers with underused chargers or stalls: They want to monetize idle capacity without running fleet ops or negotiating many bespoke host agreements; they also need liability and operational support Curo site.
• Charging‑network operators and charging‑management platforms: Off‑peak charger capacity sits idle; productizing fleet leasing and increasing utilization typically requires integration partners and demand access AmpUp | Monta.

How would they acquire their first 10, 50, and 100 customers

• First 10: High‑touch local pilots with nearby small fleets (e.g., last‑mile, field service): short, managed leases with guaranteed overnight slots; founders handle onboarding, contracts, insurance checks, and 24/7 ops to make pilots low‑risk Curo site | YC profile.
• First 50: Leverage integrations with charging‑management/CPO partners for inventory and referrals; convert prospects with repeatable one‑site pilots and case studies from early deployments AmpUp | Monta.
• First 100: Shift to a repeatable GTM: target regional/national property portfolios and fleet groups with standardized pricing and SLAs, plus a self‑serve booking/onboarding flow and a small account team to close multi‑site contracts Curo site | SWTCH.

What is the rough total addressable market

Top-down context:

U.S. non‑home chargers (public and publicly accessible workplace) reached roughly 204,000 by end‑2024, with about 153,000 Level 2—many of which are idle overnight at workplaces and multifamily sites. This is the pool Curo taps for off‑peak fleet leasing ICCT. AFDC data also shows Level 2 ports dominate public infrastructure, supporting an ample supply base for distributed, depot‑style charging AFDC.

Bottom-up calculation:

Illustrative U.S. SOM today: assume 30,000 distributed fleet EVs need predictable overnight L2 charging via third‑party sites in top metro areas, and spend $200–$350 per vehicle per month for parking, power, and operations. That implies ~$72M–$126M annual spend addressable by a “virtual depot” marketplace. If penetration reaches 75,000 vehicles at a $250–$350 ARPU, the revenue opportunity rises to ~$225M–$315M annually.

Assumptions:

• Focus on light‑duty/commercial fleets that can use L2 overnight; excludes heavy‑duty DC fast depot needs.
• Average monthly spend includes parking access, electricity, and ops fees, based on typical overnight usage and urban pricing.
• Near‑term SOM is constrained by network density and integration coverage; TAM expands as inventory and fleet EV counts grow ICCT.

Who are some of their notable competitors

• EV Connect: Fleet‑focused charging software and managed programs (reservations, uptime support). Overlaps with Curo on the “manage my charging/network ops” layer, but typically for owned/operated sites.
• FreeWire Technologies: Battery‑integrated DC fast chargers and relocatable deployments under Power‑as‑a‑Service. Competes on fast, low‑capex deployment, but with hardware + CaaS rather than a host marketplace.
• SparkCharge: Mobile, battery‑powered charging‑as‑a‑service for on‑site or off‑grid charging. Direct alternative for fleets needing rapid, no‑build charging options without fixed sites.
• Electriphi (Ford Pro): Depot and energy‑management software for commercial fleets (scheduling, telemetry, energy optimization). Competes on the operational layer but focuses on managing owned/installed infrastructure, now part of Ford Pro.
• Ample: Modular battery swapping for fleets to avoid dwell time at chargers. An alternative zero‑capex path for high‑utilization fleets that might otherwise lease charging via a marketplace.