Better Place, an electric vehicle charging startup based in Palo Alto, CA, has raised $50 million in a loan from the European Investment Bank. The loan will allow the company to finish building its networks in Israel and Denmark. Better Place builds charging stations and battery swap stations, a service to which consumers can subscribe. GigaOM reports:
Founded in 2007, Better Place raised $200 million in equity just last November, and said at the time the company had a valuation of $2.2 billion. Before this loan, Better had raised more than $750 million, from investors including GE, UBS, VantagePoint Venture Partners, and others.