Nayax acquires Lynkwell to expand AI-powered EV charging platform

Nayax has acquired Lynkwell, an artificial intelligence-enabled electric vehicle charging platform, in a move to strengthen its combined software and payments product in the EV charging ecosystem.

Nayax, a global commerce and payments solutions provider, said the deal supports its strategy to unite payment acceptance with advanced operational management software across the verticals it serves. The company already offers similar technologies for convenience services operators, with a cloud-based vending management system that ties together payments, telemetry and operations, as well as hardware such as its cashless payment card readers.

With the acquisition, Nayax partners seeking to deploy and operate charging infrastructure across public use cases, including retail, multi-family, workplace, fleet and government locations gain access to Lynkwell’s technology and services. Lynkwell reportedly is already “the platform of choice” for hundreds of fleets, including two of the largest in North America. Its tools are designed to maximize the financial and operational benefits of infrastructure investments.

Nayax said combining its flexible financing solutions with Lynkwell’s EV charging expertise will give customers additional capital to accelerate deployment and growth, while supporting the company’s market expansion.

Nayax has made several investments in the EV charging vertical, developing partnerships that embed its payment technology into charging equipment. The Lynkwell deal extends that approach and adds a purpose-built management software platform that has already secured approvals from utilities, funding programs and state and government procurement contracts.

The transaction received unanimous board approval from both Nayax and Lynkwell. Lynkwell reported audited 2024 revenue of $17.1 million and substantial year-over-year growth. Nayax said the implied effective purchase price is $25.9 million in cash at closing for 100% of the business, with an additional earnout based on certain profitability metrics in the first 12 months after closing.

Nayax funded the acquisition with cash on hand and expects revenue and operational efficiency benefits as Lynkwell is integrated into its platform. The transaction was completed as a simultaneous sign-and-close.

What they are saying

“Lynkwell is an important partner in our strategy to build a comprehensive platform for EV charging,” said Aaron Greenberg, chief strategy officer of Nayax, in a statement. “Together we are opening the door to a more connected and intuitive charging experience, one where software and payments work in harmony to support the next generation of charging networks.”

“This acquisition represents more than a partnership; it marks a meaningful step forward for the EV charging and energy ecosystem,” said Jason Zarillo, co-founder of Lynkwell, in a statement. “By combining Lynkwell’s advanced platform with Nayax’s global commerce capabilities, we can help set a higher standard for interoperability and innovation and support the broader transition to cleaner energy solutions for businesses and communities.”