Revfin secures Rs 100 Cr in debt financing from Northern Arc, Shell Foundation and others – TechGraph
Revfin, a digital e-mobility consumer lending platform that underwrites financially excluded and underserved segments, recently raised a funding amount of Rs 100 cr in the form of debt. The funding round was led by Northern Arc Capital in conjunction with Liquiloans, UK charity Shell Foundation and others.
“The funding will help Revfin expand e-rickshaw financing business into new states like Assam, MP, Rajasthan and Punjab,” the statement said.
The Delhi-based company plans to continue growing its existing market share of over 20% in UP, Bihar, Uttarakhand and Jharkhand. The funds will help accelerate the adoption of electric vehicle solutions among the unbanked and underserved nationwide. Revfin will use the capital to start financing and leasing two-wheelers for e-commerce deliveries.
Commenting on the fundraising, Sameer Aggarwal, Founder and CEO of RevFin said, “The latest influx of funds will help us overcome the multiple hurdles in the EV finance space in a structured way and establish Revfin as a leading financier in the EV market in India. Having experienced over 5x growth in monthly disbursements, we have established partnerships with all major e-rickshaw OEMs and also plan to bring forward our next capital raise.
Commenting on the investment, Bama Balakrishnan, COO of Northern Arc Capital, said: “Northern Arc has always believed in creating lasting impact through its partnerships. We are delighted to partner with RevFin for funding electric mobilitya rapidly evolving segment that can help reduce carbon emissions and lead to sustainable development.
The fintech platform has received funding from the Shell Foundation, a UK-registered charity that supports innovative business solutions and business models that bring low-cost consumers access to energy and transport solutions. revenue.
– Advertisement –