Revfin, in collaboration with the Government of India’s Social Justice Department, is spearheading a transformative solar energy and electric vehicle (EV) initiative in Maharashtra. At the recent ‘PM Solar2EV’ Stakeholder meet in Mumbai, Revfin showcased its success in empowering women e-auto drivers and received enthusiastic support from the Hon’ble Union Minister of State for Social Justice and Empowerment, Shri Ramdas Ji Athawale.
Shri Athawale commended Revfin’s commitment to promoting sustainable energy and transportation solutions, aligning with the government’s vision of inclusive growth. With a proven track record of investing in approximately 50,000 E-rickshaws, Revfin aims to finance 2 million electric vehicles nationwide within the next five years.
CEO & Founder of Revfin, Shri Sameer Agarwal, expressed enthusiasm about the partnership, highlighting their dedication to leveraging digital lending for sustainable mobility and financial empowerment. As part of the Solar2EV Project initiated by the Ministry of Social Justice & Empowerment and the Maharashtra Government, Revfin will facilitate the financing of electric vehicles to accelerate India’s transition to a greener future.
The Solar2EV initiative offers solar energy and electric vehicles at 30% of the vehicle cost, with 70% funding support through state schemes. Revfin will serve as the financing partner, collaborating with industry stakeholders to democratize sustainable energy and transportation solutions.
Moreover, Revfin stands at the forefront of India’s EV financing landscape, offering innovative products tailored to various segments, including last-mile deliveries and ride-share taxis. With a focus on fortifying the electric vehicle ecosystem, Revfin provides financing solutions quickly and digitally, leveraging advanced underwriting techniques.
Recent Series B funding of $14 million further strengthens Revfin’s position in the EV financing market, with investments from Omidyar Network, the Asian Development Bank, and other prominent investors. This funding underscores Revfin’s commitment to driving sustainable mobility and financial inclusion in India.
