an advanced digital e-mobility consumer lending platform underwriting
financially excluded and underserved segments, has recently raised $4m amount
in pre-series A funding round with both equity and debt. This fund raises
fast-tracks the adoption of EV solutions among the low-income consumers in the
funds will be utilised for extending loans to drive growth from the current
monthly disbursement run-rate of Rs 3 crore to Rs 15 crore per month. The
funding round was led by Redcliffe’s Dheeraj Jain, Let’s Venture Angel Fund,
Anuraag and Ruchirans Jaipuria (Beverages), Rishi Kajaria (Ceramics) and Rahul
Seth (Power Generation). Other investors include Amit Goel (Knam), Ranjit Yadav
(Info Edge, Car Dekho).
on the fund raise, Sameer Aggarwal, Founder of RevFin said, “As electric
mobility is seeing rapid adoption in India, lack of financing options remains
the largest roadblock. Revfin’s EV financing platform overcomes challenges of
consumer underwriting and product risks to make financing convenient and
accessible.The latest infusion of funds will provide us more fuel to overcome
multiple barriers in the EV financing space in a structured manner and establish
Revfin as a market-leading EV financier in India.”
is working with Shell Foundation, a UK-registered charity that supports
innovative business solutions and enterprise models that can contribute towards
sustainable development goal, to accelerate the adoption of electric mobility
solutions among the low income consumers from Tier 2 and 3 towns.
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