Revfin, an EV financing start-up, plans to raise approximately ₹2,000 crore in the upcoming year.

EV financing start-up Revfin plans to raise up to ₹2,000 crore in the next year to provide instant loans and expand its market nationwide. Founded in 2018, the company aims to offer financial assistance to individuals in small towns who may not have access to traditional banking institutions.

According to founder and CEO Sameer Aggarwal, Revfin has already secured around ₹700 crore through a combination of equity and debt. The company plans to raise an additional ₹1,500-2,000 crore in the next 12 months, with a portion coming from equity and the rest from debt. This funding will support the goal of providing loans for approximately 75,000 vehicles this year, up from the 37,000 vehicles financed in 2023.

Revfin has financed around 50,000 vehicles to date and aims to increase its presence in 23 states to 26 by the end of this year. The company currently holds a 15-20% market share in five states and intends to expand to 20-25% market share in at least 15 states by the end of the year. Investors in Revfin include Omidyar Network India, ADB Ventures, Green Frontier Capital, and Companion Capital.

The company has partnered with several manufacturers, including Yatri, City Life, Bounce, Tata Motors, and others, to offer financing options for fleet owners. Aggarwal also revealed that Revfin aims to disburse around ₹1,300 crore this financial year and plans to reach ₹3,000 crore in disbursements by March 2026. With a focus on growth and accessibility, Revfin continues to make strides in the EV financing industry.