Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post

Revfin Successfully Raises $14 Million In Series B Investment Round

- Advertisement -

The recent investment is crucial for the company’s mission to strengthen the electric vehicle (EV) ecosystem in India.

Revfin, a digital lending platform, has marked a significant milestone by completing its Series B funding round, securing a substantial amount of US$ 14 million (approximately Rs 115 crore). This round of funding was spearheaded by Omidyar Network, accompanied by contributions from the Asian Development Bank and Companion Capital Limited and ongoing support from existing investors like Green Frontiers Capital and LC Nueva. With this latest financial boost, Revfin’s cumulative capital, encompassing both debt and equity, has escalated to an impressive Rs 625 crore.

This infusion of capital, representing the second major investment within a span of 12 months, is set to play a crucial role in propelling Revfin’s strategic initiative to enhance and support the electric vehicle (EV) ecosystem in India. The company is primarily focused on providing innovative financing solutions tailored for electric two-wheelers (e2Ws) and electric three-wheelers (e3Ws), among other electric vehicle categories. Moreover, the newly acquired funds will be instrumental in reinforcing essential elements of the EV infrastructure, such as charging stations and batteries, as indicated by the company.

- Advertisement -

Sharing his thoughts on this notable advancement, Sameer Aggarwal, the founder and CEO of Revfin, mentioned that the funding will greatly enhance their ability to expand the EV ecosystem, playing a substantial role in the development and proliferation of various types of electric vehicles throughout India.

- Advertisement -

Most Popular Articles

Aryaman Raghuvanshi
Aryaman Raghuvanshi
Aryaman Raghuvanshi is a Journalist at EFY. His passion is to explore the future of mobility, which gets him to cover latest technologies shaping the future of automobiles and EVs. But, at times he writes on broader technologies too. LinkedIn: https://www.linkedin.com/in/aryaman-raghuvanshi-2431b7153

LEAVE A REPLY

Please enter your comment!
Please enter your name here
Captcha verification failed!
CAPTCHA user score failed. Please contact us!

Exclusive

Roboshuttles, Autonomous Buses Revenue To Surpass $67 Billion By 2044

0
Experiencing gradual growth and slow adoption, the autonomous buses and roboshuttles global market may cross $67 billion after the next twenty years with a...

Global Smartphone Market Up 6.5% YoY in Q2 2024

0
Boosted by better consumer confidence and positive economic factors, reports say that the global smartphone sell-through volumes increased by more than 6% YoY in...

AI Startup Funding Drops 10% YoY In 2023

0
With total investment falling by 10%, 2023 recorded AI startup backing of $42.5 billion, a decline after hitting the peak in 2021 as per...

Buzz

MyPickup Secures INR 1.5 Crore In Seed Funding From Inflection Point Ventures

0
This funding will fuel the development of advanced scheduling algorithms, a user-friendly mobile app, and brand enhancement. Inflection Point Ventures, backing over 200 startups...

Roadcast & AMU Partner To Simplify And Secure EV Leasing

0
By incorporating GPS technology into the 3W e-rickshaws that AMU leases, the company can forecast and pinpoint non-performing assets and likely defaulters. Additionally, the...

Sparsh CCTV Invests $3 Billion To Boost Manufacturing

0
Sparsh CCTV invested $3 billion to enhance production capacity, aligning with 'Make in India' for surveillance equipment, focusing on scaling operations in Kashipur. Sparsh CCTV ...

Important Sectors

MyPickup Secures INR 1.5 Crore In Seed Funding From Inflection Point Ventures

0
This funding will fuel the development of advanced scheduling algorithms, a user-friendly mobile app, and brand enhancement. Inflection Point Ventures, backing over 200 startups...

Roadcast & AMU Partner To Simplify And Secure EV Leasing

0
By incorporating GPS technology into the 3W e-rickshaws that AMU leases, the company can forecast and pinpoint non-performing assets and likely defaulters. Additionally, the...

Sparsh CCTV Invests $3 Billion To Boost Manufacturing

0
Sparsh CCTV invested $3 billion to enhance production capacity, aligning with 'Make in India' for surveillance equipment, focusing on scaling operations in Kashipur. Sparsh CCTV ...

JinkoSolar Partners With Saudi Arabia To Manufacture Solar Cells

0
To establish a new solar cell manufacturing unit in the Middle East, JinkoSolar has joined hands with the PIF and Vision Industries of Saudi...

IREDA Announces $2.9 Billion Investment To Boost Renewable Energy Infrastructure

0
IREDA announced a $2.9 billion investment in a 900 MW hydroelectric power project in Nepal, expanding renewable energy infrastructure and fostering international collaboration. On Tuesday, the...

Manufacturing

Sparsh CCTV Invests $3 Billion To Boost Manufacturing

0
Sparsh CCTV invested $3 billion to enhance production capacity, aligning with 'Make in India' for surveillance equipment, focusing on scaling operations in Kashipur. Sparsh CCTV ...

Cooper Standard Launches Ecoflow For Electric Vehicles

0
This scalable fluid control technology, which can be used across various powertrains, is particularly effective for managing the intricate glycol thermal needs of fully...

Economic Ties Strengthens Between Taiwan And India

0
According to the trade body Chairman, James Huang, Taiwanese firms relocate supply chains from China to India, boosting India’s manufacturing and bilateral trade. As global...

LeePra Chooses Delvitech’s 3D AI AOI System

0
Eyeing efficient quality monitoring, LeePra Technologies has partnered with Delvitech to include advanced AI solutions in its manufacturing units. Last week, EMS provider LeePra Technologies...

India & Russia Partner To Boost India’s Defence Capabilities

0
Backed by Russia, HAL aims to produce and export Sukhoi Su-30 fighter jets in Nashik to enhance India's aerospace prowess and export potential. India's state-owned...