Mufin Green Finance, a pioneer in climate financing solutions in India has secured Rs 140 Cr in a Series B round of equity funding.The company’s growth trajectory is expected to accelerate significantly with this financial injection.
The Mufin Green Finance stated that it will accelerate its attempts to expand its commercial activities in the nation’s northwest with the help of the additional funding. It’s mission is to create equal financial opportunities for the underserved segment in the country using clean technologies.
Kapil Garg, MD of Mufin Green Finance, said “The funding affirms the strength of our business model and positions us effectively to meet the ever-increasing demands of our expanding customer base. Also, it will equip us to explore more product avenues in the EV ecosystem, as we are looking to further invest in more electric vehicle categories from buses, and LCVs to commercial four-wheelers. We are looking forward to every bit of enabling the last mile of green mobility and are excited to take charge as the leading NBFC in the EV financing business domain. The equity and debt funding will initiate our next phase of growth, with an intense focus on expanding our operations in other major markets throughout India”.
Read also – [Funding alert]Wishlink Secures $7 Mn in Funding
About Mufin Green Finance
Founded in 2016, Mufin Green Finance is India’s first listed NBFC with a 100% focus on EV financing. With a capital base of 150 Cr and a disbursement history of 250Cr and EV vehicles, it has financed EV assets worth more than 300Cr over the last couple of years.
Our commitment to sustainability and financial inclusion has helped us become one of the leading EV finance providers in the country. Mufin Green Finance hold a 7-8% market share of Erickshaw financing in our operating territory, spread across 14 states.