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.