M2P Fintech, a fintech infrastructure provider, has successfully powered an EV financing product for evfin, a financial platform by Greaves Finance. This collaboration aims to offer cutting-edge technology and seamless user experiences, including industry-first financing products (like loans with a seamless upgrade option) catering to a lifetime of EV ownership experience, for an accelerated transition to electric vehicles.
With the integration of M2P Fintech’s Core Lending Suite, evfin has become M2P’s first customer to launch an EV financing solution. The product primarily focuses only on financing options for electric vehicles.
M2P Fintech has extended comprehensive support to evfin by providing cutting-edge solutions. These include a mobile application, a loan origination system, a loan management system, a Business Rule Engine (BRE), and a delinquency management system. As a result, customers can now complete the onboarding process in less than 5 minutes, claims the press release.
Madhusudanan R, Co-founder of M2P Fintech, said, “This strategic partnership between M2P Fintech and Greaves Finance aims to drive the widespread adoption of electric vehicles (EVs) and significantly contribute to India’s sustainable development goals. The remarkable penetration of evfin into tier-2 and tier-3 cities, combined with the exponential increase in EV adoption, showcases the extensive market reach of EV financing.”
Sandeep Divakaran, ED and CEO, Greaves Finance, said, ” At evfin, we are committed to democratising the EV experience through our leading-edge platform, which is specifically designed to provide an end-to-end lifecycle experience for EV owners. The evfin platform ensures a unique and seamless journey, providing a lifetime of EV experiences enriched by inventive financial solutions and expert guidance. We are thrilled to announce that the evfin platform is powered by cutting-edge custom-built lending solutions from M2P Fintech.”