New Delhi: Accelerated Money for U (AMU), has recorded 3X growth in revenue in FY24 compared to the previous year. To scale this growth and boost profitability, it intends to raise INR 400 crore by FY26. The NBFC will use the capital to fund 1 lakh electric vehicles over the next three years and diversify its financing offering to extend its support to the broader clean-tech domain.
Through these efforts, the company seeks to cater to the financing needs of the cleantech space beyond electric vehicles and generate a revenue of INR 130 crores in the same period. It also plans to expand its presence in new regions, including Assam, Bihar, Jharkhand, and Madhya Pradesh to achieve its target revenue of INR 75 crores in FY25, the company said in a media release.
In the previous financial year, the cleantech financing platform reported a revenue of INR 20 crore and raised INR 97 crore to support over 200 MSME partnerships, comprising individual drivers, fleet owners, logistics companies, and battery leasing initiatives. With fresh revenue and funding, the NBFC aims to expand its portfolio and increase AUM.
To secure the required funding the NBFC plans to explore financing options, including term loans, NCDs, equity, co-lending, venture debt, bonds, and impact funds.
Founder and MD of AMU, Nehal Gupta, said, “As a leading clean-tech financing platform, we believe by making financing solutions more diverse and inclusive we can support our nation’s strides towards advancing green energy. To support our vision, we plan to boost our revenue, diversify our product offering, and support 1 lakh EVs in the next three years. And, to achieve the target, we aim to raise INR 400 crore in the next two years and generate a revenue of INR 130 crore in the same period. We also seek new partnerships to support our vision of making clean-tech financing accessible to all.”
