Revfin Enters The Electric Vehicle Leasing Business

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A file photo of Sameer Aggarwal, Founder and CEO of RevFin
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Revfin, a digital finance platform, has launched its #RevFinBharatYatra campaign to enter the electric vehicle leasing business.

Zyngo EV Mobility has agreed to finance and lease over 25 L5 three-wheelers as well as 200 electric two-wheelers over the next 3 months. This will allow for local deliveries in Delhi and Bangalore.

This digital platform aims to finance around 2 million electric vehicles over the next five years. It recently launched a campaign to expand its reach in new states, increase its presence in 50 cities with 1000 dealerships, as well as to add 10,000 customers.

The plan also envisages five new partnerships in various forms of mobility, including two-, three, and four-wheelers, with e-commerce operators and other last-mile connectivity operators. It is intended to explore and explore different financing options for electric vehicles.

For last-mile delivery and mid-mile deliveries, there are currently 25 EVs in Delhi. The vehicle could be leased for as long as 3 years. This model allows customers to have more control over their vehicles and will allow them to choose personalized services that will enhance customer engagement.

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Sameer Aggarwal, Founder, and CEO of, Revfin said, “EV continues to remain inaccessible in India due to high battery cost, research & development, and the high-end technology adopted to manufacture them. Its adoption has accelerated primarily due to the sudden boom in mid-mile and last-mile deliveries across cities and towns coupled with lower running costs, grants, and incentives by the government (like FAME-II subsidy) and the gradual shift from ICE vehicles by 2030. By partnering with Zyngo, Revfin can change the ownership trend and make EV leasing, a viable alternative to increase electric mobility penetration in the country.”

Prateek Rao, CEO, and Co-Founder, Zyngo EV Mobility said, “We are driving ahead the electrification of last-mile delivery services across the e-commerce spectrum. This initiative requires such collaborations to enable the empanelment of the EV ecosystem in the last-mile delivery space. Revfin’s financing solutions combined with Zyngo’s fully competent and advanced logistics tech platform and fleet management will strive the EV ecosystem and enable faster adoption.”

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Revfin has already disbursed more than $18 million to finance over 13,000 EVs in 15 states, with over 550 dealers and the top 10 OEMs. It recently closed $10 million in Series A funding. This enables it to capture more than 10% of the electric three-wheeler market.

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