Aerem, a solar panel financing provider, has raised $2.5 million in its pre-series A funding round from Blume Ventures.
The startup plans to use the funds to acquire new customers, improve its platform, and hire more people for its technology, product, finance and operations departments.
The Mumbai-based Aerem was founded in 2020 by Anand Jain, It is pioneering a full-stack solution to build India’s first asset finance and quality platform for solar power.
It provides a digital platform that allows customers to avail loans from Airem’s in-house non-bank financial companies and partner banks.
Its platform removes barriers to the adoption of rooftop solar for MSMEs, and it serves a highly scalable space.
“Aerem’s aim is to democratise the adoption of rooftop solar for a better, greener, and sustainable future. Our innovative solar tech platform, including AAA (Aerem Asset Assurance), ensures quality rooftop solar systems. Combined with financing from our in-house NBFCs or partner banks, we enable a reduction in the power bills of MSMEs ,” said, Anand Jain, founder, Aerem.
The company said that it is entering the $200 billion market in India and is targeting 20 million MSMEs in the country.
“We are impressed with Anand’s vision and Aerem’s platform approach that includes credit. Their full-stack solution provides end-to-end engagement and is ahead of the market by one-two years,” said, Ashish Fafadia, partner, Blume Ventures.
“Solar is in a sweet spot, where macro (top-down) and micro (bottom-up) factors are incredibly aligned. This is extremely rare for any sector. India has targeted 280 GW of solar capacity and 50% of its energy requirement from clean energy by 2030”, he added.
Aerem is a revolutionary 360-degree ‘FinTech for CleanTech’ platform that helps businesses and commercial enterprises harness the power of the sun and reduce electricity costs by up to 70%.
They leverage their widespread installer network and empower MSME businesses to make a shift to clean energy. Their unique platform helps companies to implement high-quality rooftop solar systems along with quick & easy loans from their in-house NBFC or partner banks.
At Aerem, they’re on a mission to democratize the adoption of rooftop solar and create a better, greener, and sustainable future. By nature of its business, Aerem has Triple Bottomline impact. It is headquartered in Mumbai with a growing presence across the country.