Revfin, a digital lending platform, has successfully concluded its Series B funding round, raising US$ 14 million (Rs 115 crore).
The funding was led by Omidyar Network, with participation from the Asian Development Bank, Companion Capital Limited, and existing investors Green Frontiers Capital and LC Nueva. This funding brings Revfin's total capital raised through debt and equity to Rs 625 crore.
The latest capital infusion, the second investment in the past 12 months, will play a pivotal role in advancing Revfin's commitment to fortify the electric vehicle (EV) ecosystem in India. The company aims to provide financing solutions for electric two-wheelers (e2Ws), electric three-wheelers (e3Ws), and various other types of electric vehicles. Additionally, the funds will support key components of the EV ecosystem, including charging stations and batteries, the company shared.
Sameer Aggarwal, founder and CEO of Revfin, speaking on the announcement said “This funding will empower us to further enhance the EV ecosystem and contribute to the growth of all types of electric vehicles in India.”