Finayo, a Gurugram-based company specializing in financing and asset management for electric vehicles (EVs), has successfully secured Rs 160 million in funding.
The investment comes from F Mec International Financial Services, Choice Finserv (CFPL), and other angel investors and high-net-worth individuals.
The funds will be utilized to invest in advanced technologies, expand Finayo’s presence across India, and accelerate the development of a comprehensive EV financing network.
The company aims to promote the financially inclusive adoption of EVs, aligning with India’s goal of achieving zero net emissions.
Finayo seeks to democratize the lending process for EVs, enabling lenders, original equipment manufacturers (OEMs), and dealers to efficiently manage and generate immediate loan offers for various EV buyers.
The collaboration with F Mec International and CFPL is geared towards expanding business operations and fostering nationwide growth in the EV sector, with a shared vision of creating employment opportunities in the green transportation market.
Established in 2020, Finayo operates as a technology-driven lending platform focused on green mobility, facilitating seamless connections between lenders and customers of EV retailers through its software as a service platform.
This streamlines the credit decision-making process, allowing retailers and OEMs to secure financing for their customers in a matter of minutes.
