Astranova’s NBFC: NovaFusion Capital Launched | ₹5,000 Crore Target, EV Lending for Gig Drivers & Fleets

Name: Astranova’s NBFC: NovaFusion Capital Launched | ₹5,000 Crore Target, EV Lending for Gig Drivers &amp; Fleets
Uploaded: 2026-10-20T12:56:39+05:30
Description: Kunal Mundra and Shraddha Srimal discuss NovaFusion Capital’s NBFC approval, targeting a ₹5,000 crore portfolio, and expanding commercial EV financing.

Kunal Mundra and Shraddha Srimal discuss NovaFusion Capital’s NBFC approval, targeting a ₹5,000 crore portfolio, and expanding commercial EV financing.

By Mugdha Mishra

20 Oct 2026

1 Views

Astranova’s NBFC: NovaFusion Capital Launched | ₹5,000 Crore Target, EV Lending for Gig Drivers & Fleets

Astranova Mobility's lending subsidiary, NovaFusion Capital, has received approval from the Reserve Bank of India to operate as a Non-Banking Financial Company, secured within 90 days. The company is targeting ₹5,000 crore in assets under management over the next five years, with capital for its first ₹200 crore deployment already in place.

In this conversation, Kunal Mundra, Founder and CEO of Astranova Mobility, and Shraddha Srimal, CEO of NovaFusion Capital, explain what the licence means for the business.

They cover how the company plans to finance gig workers and 3W/4W commercial drivers, how telematics and utilisation data will feed into credit assessment, and what happens to Astranova's existing EV leasing and asset-management business.

Watch the full conversation here.