RevFin..

RevFin witnesses over 5500 Women E–Rickshaw Drivers from Bihar and Uttar Pradesh Smash Stereotypes; Spearheading Equity and Growth Through EV Loans

●        Offers ground-breaking financial solutions as part of its commitment to diversity and gender empowerment

●        Currently, the representation of women in India's electric vehicle industry in Tier 2 and 3 markets stands at 24%

●        EV financing has fueled women's empowerment across states, with notable figures in Uttarakhand and Jharkhand at 550  and 362 respectively, followed by Madhya Pradesh (166), and Assam (105)

●        The EV loans open up numerous opportunities for women to explore leadership roles and entrepreneurial ventures like starting additional businesses, expanding their existing ones, or even becoming fleet operators

New Delhi: August 25, 2023 – RevFin Services, India’s fastest-growing advanced digital consumer lending platform that underwrites financially excluded and underserved segments, celebrates the remarkable rise of women from Tier 2 and 3 cities in India, who have shown immense interest in availing loans to drive the EV revolution while embracing equity. On Women Equality Day, we recognize that women have the potential to earn as much as men, breaking through any glass ceiling. According to data generated from various states, the EV industry's representation of talented and empowered women in Tier 2 and 3 markets stands at an encouraging 24%. Bihar and Uttar Pradesh lead the way, with an impressive number of more than 5500 women availing loans.

RevFin's report vividly showcases women’s empowerment through EV financing across various states. States like Uttarakhand account for 550 women securing loans, while Jharkhand stands at 362. 

One inspiring story of RevFin is that of Priya Verma, a 32-year-old lady from Haridwar. Formerly a security guard, she took charge of her life during the lockdown by obtaining an E-rickshaw loan from RevFin. With steady earnings of over INR 20,000, Priya now enjoys flexibility, work-life balance, and uplifted living standards. It has enabled her to inspire other women to opt for driving E-rickshaws, empowering them along the way.

Sharing his insight on the report, Sameer Aggarwal, CEO and Founder of RevFin, said, “It’s commendable to witness the remarkable ascent of women hailing from tier 2 & 3 cities.  By embracing EV financing opportunities, they are no longer just the bread makers but are also taking charge as the breadwinners of their households. In pursuit of empowerment, they have encountered unique hurdles in accessing loans. At Revfin, our seamless loan process stands as a beacon of support, providing these incredible women with the financial resources they deserve. Together, we forge a path where their potential thrives, and their families prosper. Let us celebrate their unwavering determination as they shine brightly, illuminating a brighter tomorrow."

As an industry pioneer, RevFin’s financing solutions and steadfast dedication have shaped a future where women's contributions are both acknowledged and magnified through various leadership roles and entrepreneurial ventures in the EV sector.