BatteryPool, India’s deeptech-fintech platform focused on electric vehicle (EV) battery financing, has partnered with leading financial institutions to introduce a sachetized financing model for the country’s commercial EV segment, targeting e-rickshaw drivers, gig workers and fleet operators.
The model allows borrowers to repay battery loans through daily, weekly, or prepaid 15-day and 30-day EMI options, aligning repayment schedules with the irregular income patterns of India’s informal workforce. BatteryPool’s financing portfolio is currently active across nine cities in four states, primarily in western and central India, and has recorded repayment rates exceeding 99 percent, with minimal credit losses for lending partners.
Founded in 2018, the startup has developed a proprietary charge-lock technology that embeds repayment discipline directly into the battery system. If an EMI is missed, the battery cannot be recharged until dues are cleared, after which charging access is automatically restored. This mechanism significantly reduces default risk and has helped build strong confidence among non-banking financial companies (NBFCs) looking to expand EV lending.
BatteryPool’s integrated hardware, software and AI stack enables real-time payment tracking, battery lifecycle management and flexible repayment structures that traditional EV financing models are unable to support.
The company is currently working with two NBFC partners, including AMU Finance and Mufin, which together are deploying a monthly credit line of ₹1–2 crore through the platform. With additional partnerships in the pipeline, BatteryPool now has access to a total deployment capacity of over ₹25 crore, which it plans to utilise as it expands its user base from 1,400 to more than 10,000 drivers over the next 12 months.
“Our mission is to make EV ownership attainable for every driver by linking affordability to technology,” said Ashwin Shankar, Founder and CEO of BatteryPool. “Our sachetized EMI model creates a new type of financial inclusion for drivers who depend on daily earnings, while offering lenders a secure and fully digital collection system.”
He added that batteries account for nearly 50 percent of the total cost of an e-rickshaw, making financing critical for ownership, while gig workers in last-mile delivery and quick commerce face similar affordability barriers.
BatteryPool currently manages over 2,200 batteries and plans to scale this to 6,000 units by March 2026. Its portfolio includes both rental batteries under a Battery-as-a-Service (BaaS) model and NBFC-financed batteries owned by drivers through flexible EMIs.
After three to four years of usage, batteries are repurchased by BatteryPool at a predetermined price and either refurbished for stationary energy storage or recycled, ensuring long-term asset utilisation and sustainability.
Looking ahead, the company plans deeper integrations with EV manufacturers, fleet operators and digital lending platforms to make sachetized battery financing the standard option for commercial EV buyers in India.
