In Last 1530 Days, Revfin Financed 11 Electric Vehicles Daily

Revfin Rings In $5 Mn From United States International Development Finance Corporation

EV finance firm Revfin says that it has financed over 17,118 electric vehicles in the last 51 months. This means,  in the last 1530 days Revfin financed 11 electric vehicles everyday. These vehicles are plying in over 200 cities across 16 states of India. The firm has already contributed to reduction of 30486 metric ton of CO2 emission.

Revfin also underwrites financially excluded and underserved segments in tier 2 and tier 3 cities also. Aiming to finance 2 million electric vehicles in the next five years, the firm has established a nationwide presence with strong market share in Bihar, Uttar Pradesh, Uttarakhand, Jharkhand and strengthening market presence in Madhya Pradesh, Rajasthan, Gujarat, Punjab and Assam in partnership with more than 650 dealerships. It has teamed up with 26 OEMs, including major players like Kinetic Green, Yatri, Saarthi, Mayuri, Lectrix, Hero Electric, and Piaggio to expedite the adoption of EVs and create a robust infrastructure for clean mobility.

The EV financing firm says it has captured 28% of the market share in Bihar, 23% of the market share in Uttar Pradesh East and 20% of the market share in Uttarakhand, which is a new market launched in 2021. Having increased the financial inclusion ratio by 85% Revfin claims that it has managed to cover over 305 million green kilometres with the EVs.

Recently, Revfin forayed into the 4W EV segment by financing 2BYD electric cars in collaboration with Zappit for the purpose of airport pick-up services. It has expanded its financing horizons by tying up with battery swapping company, SunMobility, which caters to Piaggio EV. The digital finance company has also forayed into the electric vehicle leasing business, Revfin Mobility which includes 4-wheeler, 2-wheeler, and 3-wheeler cargo through fleet aggregator partnerships, creating a micro secondary market for EVs.