Revfin, one of the leading digital lending platforms committed to transforming sustainable mobility and promoting financial inclusion in India, announced the successful conclusion of its Series B funding round, securing USD 14 million (INR 115 crore).
Omidyar Network spearheaded the round with a USD 5 million investment, joined by the Asian Development Bank, Companion Capital Limited, and existing investors Green Frontiers Capital and LC Nueva, the company stated in a press release.
This funding brings Revfin’s total capital raised through debt and equity to 625 Crore. Noteworthy angel investors such as Dhiiraj Jain (Redcliffe Labs), Anuraag Jaipuria, Ruchi Rans Jaipuria, Rishi Kajaria, Let’s Venture Angel Fund, Harash Jain, and others supported Revfin in this journey.
This recent capital infusion represents Revfin’s second significant investment in the last 12 months. The funds will play a pivotal role in advancing Revfin’s steadfast commitment to fortify the electric vehicle (EV) ecosystem, providing financing for electric two-wheelers (e2Ws), electric three-wheelers (e3Ws), and all other types of electric vehicles, the company said.
Additionally, the funding will support various components of the EV ecosystem, including charging stations and batteries.
Sameer Aggarwal, Founder and CEO, stated, “I am delighted to announce that, with the backing of Omidyar Network and our esteemed investors, we have successfully raised USD 14 million. This funding will empower us to further enhance the EV ecosystem and contribute to the growth of all types of electric vehicles in India. Our unwavering commitment to revolutionize digital lending remains strong, and we look forward to the opportunities ahead.”
