RevFin is a digital lending financial technology (FinTech) company that finances commercial electric vehicles that collected $4 million in pre-series (approximately Rs 30 crore). Dheeraj Jain, the founder of Redcliffe Life Solutions, led the investment round, and other investors included Let’s Venture Angel Fund, Anuraag and Ruchirans Jaipuria, Rishi Kajaria, and Rahul Seth, Amit Goel, the founder of Knam Marketing, and Ranjit Yadav, president of Car Dekho.
The money raised, according to RevFin, would be used to help lower-income Indians get on board with electric vehicle (EV) solutions faster. In pre-series A investment round comprising equity and debts, the startup raised $4 million (about INR 30 Cr). It is also planning to expand its business by increasing the loans from the existing monthly installment payment of INR 3 Cr to INR 15 Cr.
Sameer Aggarwal, the founding partner, said: “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. “
RevFin & EVI Technologies partnered to give finance to e-rickshaws & e-two-wheelers
In partnership with RevFin, a digital lending company, and electric three-wheeler companies Saarthi and Mayuri, EVI Technologies electric vehicle charging infrastructure company has established partnerships. The RevFin finances e-rickshaws and e-two wheeler with EVI Technologies’ swappable battery solutions. The collaboration will primarily focus on states such as Delhi-NCR, Uttar Pradesh, Chhattisgarh, and Haryana.
The company is committed to providing easy, affordable, and environmentally responsible transport services at the last mile. The EVI battery swap solution and the only digital financing company to offer to fund in the EV sector in India. A sustainable mobility ecosystem will be achieved through this collaboration and its easy low-cost funding helps to create clean energy, particularly in cities in Tier 2 and Tier 3.
Rupesh Kumar, founder, and CEO of EVI Technologies(EVIT) said the alliance will offer an easy answer to all the problems faced by drivers of electric vehicles and the EV sector in general. “Together, we hope to have over 10,000 electric vehicles with swappable battery options on the road by the end of this fiscal year,” Kumar added.
