fbpx
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • REGISTER
  • login
No Result
View All Result
No Result
View All Result
Home Featured

Digital Lending Platform RevFin raises US$13 million in pre Series A Funding

AsiaTechDaily Writer by AsiaTechDaily Writer
17 March 2022
in Featured, FinTech
0
RevFin
95
SHARES
Share on FacebookShare on Twitter
Bookmark(0)

Please login to bookmark

No account yet? Register

India-based FinTech startup RevFin has raised US$13 million in its pre Series A funding round led by Northern Arc, LiquiLoans, and UK charity Shell Foundation among others.

RevFin that offers electric vehicle (EV) financing digital platform plans to use the fresh funding to expand into new geographies for financing three-wheelers and make a foray into providing loans for two-wheelers in the e-commerce delivery space.

The company is looking to enter new states in the country for electric three-wheeler financing as it targets to grow revenue up to five times in the new fiscal year.

“Having experienced over 5X growth in monthly disbursement, we have built partnerships with all major e-rickshaw OEMs (original equipment manufacturers) and are also planning to bring forward our next equity raise,” Sameer Aggarwal, founder and CEO of RevFin, said.

“The latest inflow of funds will help us overcome multiple barriers in the EV financing space in a structured manner and establish Revfin as a market-leading EV financier in India,” Sameer added.

The company also said that the funding will also help them fast-track the adoption of EV solutions among the un-banked and under-served in the country.

RevFin will also be focusing more on the commercial side and will be offering loans to individuals who are operating under an ecommerce platform or a fleet operator. According to Sameer Aggarwal, in the fleet operator and ecommerce space, most of the financing is happening at the wholesale level to the fleet operator, who are able to raise money from organizations to buy their own vehicles. However, individual drivers are still not getting financed. He added, “This is the biggest opportunity for them to go in and finance the drivers, who are backed by ecommerce platforms, in terms of providing them with employment and sufficient income generation of opportunities,”

About RevFin

Founded in 2018 by Sameer Aggarwal, RevFin offers electric vehicle digital lending options through its platform. The company aims to make financing convenient and simpler by overcoming product risks and consumer underwriting.

The startup is currently present in 18 Indian cities with more than 350 dealership locations and has partnerships with several original equipment manufacturers.

What are your thoughts?
+1
3
Upvote
+1
0
Clap
+1
0
Clap
+1
0
On fire
+1
0
Meh
+1
0
Clap
+1
0
Tags: digital lendingdigital platformFintech startup
Previous Post

WEBUY acquires Indonesian group buy platform Chilibeli

Next Post

China’s AI Startup DataGrand secures US$92 million funding in its Series C round

Related Posts

PAG
Featured

PAG, First Solar agree to landmark renewable energy deal in Japan

May 18, 2022
Sea Limited
Featured

Sea Limited posts 64.4% year-on-year revenue growth in Q1 2022

May 17, 2022
Blinq
Featured

Australia’s Blinq raises A$5m to build simple, shareable identities

May 17, 2022
Qoala
Featured

Indonesian insurtech startup Qoala raises $65m in Series B round

May 13, 2022
Chainalysis
Blockchain

Blockchain data platform Chainalysis bags $170m in GIC-led funding

May 13, 2022
Good Startup
Featured

Singapore VC Good Startup closes alt protein fund at $34m

May 12, 2022
Next Post
DataGrand

China’s AI Startup DataGrand secures US$92 million funding in its Series C round

Discussion about this post

No Result
View All Result

FREE NEWSLETTER

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo

No Result
View All Result
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Ecosystem
    • Marketplaces & E-commerce
    • Robotics
    • Investments
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Startup Investing
    • Fundraising
    • Product Launching
  • MORE
    • Events
    • Startups Advice
  • Submit an Article
  • Forums
  • Jobs
  • REGISTER
  • Login

Copyright © 2021 AsiaTechDaily.com| About Us | Seed acceleratorTerms of Use| Privacy Policy| Cookie Policy Contact : [email protected] | DMCA.com Protection Status | trusted by Wimgo