Fintech startup Perpetuity Capital has raised Rs 1 crore (around $7.5 million) in a funding round from Sungrace Finvest.
The startup plans to use the funds to help enhance its technology capabilities, expand its EV OEM tie-ups, and finance its B2B and retail sales.
The Kolkata-based Perpetuity Capital was founded in 2017 by Karmveer S Dhillon and Karan Singh Dhillon, it is a non bank finance company (NBFC), enables assest and electric vehicle ownership for sole proprietor operators, drivers, and under-served entrepreneurs in the auto sector.
“At the moment, EVs account for only 1.3 percent of all automobiles sold in India.” When this figure reaches 5%, it will herald the beginning of widespread EV use. Historically, once the 5% threshold is reached, technological preference quickly shifts, as shown with a variety of technologies such as the mobile phone, the internet, and even LED lighting. Perpetuity Capital hopes to encourage the adoption of a greener and cleaner mobility solution”, said Karamveer Dhillon, Co-Founder and CEO of Perpetuity Capital.
About Perpetuity Capital
Perpetuity Capital is a financial technology (FinTech) company offering customized lending solutions for Commercial vehicles, Personal vehicles and Two-Wheeler loans. Customers can apply online via mobile or web. Their advanced digital lending platform makes getting a loan easy and accessible for our customers. They provide lending products to their customers through their own lending company (NBFC), regulated by the Reserve Bank of India.