Omidyar Network led the recent funding round of $14 million for Revfin, with participation from the Asian Development Bank, Companion Capital Limited, and existing investors Green Frontiers Capital and LC Nueva. With this funding, Revfin has now raised a total of Rs 625 crore through a combination of debt and equity.
This recent capital injection, marking the second investment in the past 12 months, will play a crucial role in advancing Revfin’s commitment to strengthening the electric vehicle (EV) ecosystem in India. The company’s focus is on providing financing solutions for various electric vehicles, including electric two-wheelers (e2Ws) and electric three-wheelers (e3Ws). The funds will also support essential components of the EV ecosystem, such as charging stations and batteries.
Sameer Aggarwal, the founder and CEO of Revfin, expressed that this funding will empower the company to further enhance the EV ecosystem and contribute to the overall growth of electric vehicles in India.