305+ million green-kilometres covered by Revfin financed vehicles

305+ million green-kilometres covered by Revfin  financed vehicles

35+ OEMs and other strategic partnerships, over 650+ dealers, more than 15000 customers and trust of some of the best in industry lenders & investors is keeping Revfin ahead of others in this electrifying journey of EV-adoption in India.

New Delhi; 27th March, 2023: Fuelling India’s “Green Growth” journey towards Net Zero, Revfin, an advanced digital lending platform is playing a focal role in creating a sustainable future for the planet and for the EV ecosystem.

Revfin in the last 51 months has financed over 17,118  Electric vehicles, this means  in the last 1530 days every single day, Revfin financed  11 electric vehicles. These vehicles are plying in over 200 cities across 16 states of India thereby creating a sustainable future for generations to come – Revfin has already contributed to reduction of 30486 metric ton of CO2 emission and every single minute this emission abatement is increasing.

Revfin, India’s No. 1 and Fastest growing EV Finance company has advanced digital lending platform and proprietary  digital underwriting capabilities which enables it to underwrite financially excluded and underserved segments in tier 2 and tier 3 cities also. 

Aiming to finance 2 million electric vehicles in the next 5 years, Revfin has already established a nationwide presence with strong market share  in Bihar, Uttar Pradesh, Uttarakhand, Jharkhand and strengthening market presence in Madhya Pradesh, Rajasthan, Gujarat, Punjab and Assam in partnership with more than 650 dealerships. It has teamed up with 26 OEMs, including some major ones like Kinetic Green, Yatri, Saarthi, Mayuri, Lectrix, Hero Electric, and Piaggio to expedite the adoption of EVs and create a robust infrastructure for clean mobility. 

The EV financing company has already captured 28% of the market share in Bihar, 23% of the market share in Uttar Pradesh East and 20% of the market share in Uttarakhand, which is a new market launched in 2021. Having increased the financial inclusion ratio by 85% and successfully impacting 5.9 million livelihoods, RevFin has managed to cover over 305 million green kilometres with the EVs. 

Having achieved significant scalability through financing 3W EVs and 2W EVs across the country, Revfin has recently forayed into the 4W EV segment by financing 2BYD electric cars in collaboration with Zappit for the purpose of airport pick-up services. It has even expanded its financing horizons by tying up with battery swapping company, Sun Mobility, which caters to Piaggio EV. The digital finance company has also forayed into the electric vehicle leasing business, Revfin Mobility which includes 4-Wheeler, 2-Wheeler, and 3-Wheeler Cargo through Fleet Aggregator partnerships, creating a micro secondary market for EVs.

As part of its ambitious #RevFinBharatYatra campaign Revfin has acquired the status of leading EV financier with over 20% share in 4 states and is close to be the strong number 1 in  5 other states.

It also targets initiating new partnerships in different forms of mobility like 2W,3W,4W, with e- commerce and other last-mile connectivity operators.

Sharing his insights on the growth trajectory, Sameer Aggarwal, the founder and CEO of Revfin said, 

“Transitioning to Electric vehicles is not an option any more for the world if we want to decarbonize the planet. Creating a sustainable EV ecosystem, robust infrastructure and transformational partnerships is going to be critical for making this transition smooth.

Revfin is ready to take the largest pie of $50 Billion EV Financing annual opportunity by 2030 and will stay at the frontline of India’s transition to electric mobility as the country’s largest EV financier by making EV adoption faster, easier, convenient and customised.

 In the next six months, our strategies are directed towards aggressive partnerships with EV manufacturers, significant scalability across vast geographical demographics, curating new financial products for financing every type of electric vehicles and ancillaries. We are well paced to fulfil our target of financing 2 million EVs, including 2, 3, 4-wheelers in passenger and cargo segment and ancillaries like batteries, swapping station by 2027.”