Manba Finance Limited announced strategic partnerships with three companies today to expand its vehicle financing operations, particularly in the electric vehicle sector, and extend its reach into new markets.
The non-banking financial company has joined forces with electric scooter manufacturer BGauss Auto, rural financial services provider Fin Coopers Capital, and digital financing platform ProsParity.
"These partnerships enable us to expand our reach, enhance our offerings, and support communities across India with efficient, transparent, and socially responsible services," said Monil Shah, Executive Director and Chief Business Officer at Manba Finance Limited.
The collaboration with BGauss Auto aims to increase financing options for electric vehicles, making them more accessible to consumers. The partnership positions Manba Finance to participate in the growing electric mobility market while promoting environmentally sustainable transportation.
Through its association with ProsParity, Manba Finance will gain access to a digital platform that uses data analytics to improve risk assessment and streamline loan processing. The company expects this technology to enhance its ability to evaluate loan applications and provide better financial solutions to customers.
The alliance with Fin Coopers Capital is expected to provide Manba Finance with expertise in investment and capital management, potentially allowing for more competitive interest rates and financing options. This partnership, along with ProsParity, will help Manba Finance expand in Madhya Pradesh, while the BGauss Auto relationship will increase its presence in electric vehicle dealerships.
Established in 1996, Manba Finance Limited provides loans for two-wheelers, three-wheelers, electric vehicles, used cars, small businesses, and personal needs. As of December 31, 2024, the company reported assets under management of Rs. 13,038 million, with over 1,400 employees across 71 locations in six states and relationships with more than 1,100 dealers.
The Indian electric vehicle market has seen significant growth in recent years as government initiatives promote clean transportation. Meanwhile, financial inclusion remains a priority as lenders seek to reach underserved communities in rural areas. These partnerships reflect the ongoing convergence of sustainable mobility goals with digital financial services in India's evolving economy.