TapFin Launches NBFC GoGreen Capital To Offer Green Financing Solutions

Mumbai-based sustainable financing platform TapFin has floated a new NBFC subsidiary GoGreen Capital to offer financing solutions for cleantech businesses. 

The fintech startup said the new NBFC will provide tailored loans to startups, small businesses, OEMs, EPC firms and others working on eco-friendly projects.

To start with, GoGreen Capital will focus on clean mobility, solar energy and battery-related sectors.

The NBFC will use TapFin’s tech-based credit tools, which look at non-traditional data like vehicle usage, battery performance, business partnerships and fleet activity, to assess and give loans.

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With this launch, TapFin aims to reduce reliance on external lenders, lend directly from its own funds and build a stronger asset base.

GoGreen Capital also plans to team up with other financial institutions for joint lending efforts, especially to reach smaller cities and towns.

“We applied for the NBFC licence after we secured a $4 Mn seed round from Elevar Equity last year… in due course of time, we got the NBFC licence. We actually got it in early January… Now, over the last couple of months, we’ve been trying to put the budget in place, get the systems, get people on board, the policies, processes, and obviously funds,” Pramod Marar, Co-Founder and Chief Business Officer of TapFin.

“GoGreen Capital will use ‘TapFin Hub’ –  TapFin’s proprietary platform’s core capabilities –  OEM and suppliers whitelisting, real-time asset management & monitoring via advanced AI models, portfolio valuation and disposal monetisation – to achieve a faster and more innovative go-to-market,” the startup said. 

TapFin Hub helps businesses with financial advice, battery and vehicle management, a marketplace and data insights.

The startup raised $4 million in seed funding from Elevar Equity in March last year.

About TapFin 

Founded in 2023 by Aditya Singh, Pramod Marar and Terniza Berry, TapFin is a fintech startup that provides business loans, supply chain financing, insurance and other services for companies in the cleantech space.

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