RevFin & EVI Technologies partnered to give finance to e-rickshaws & e-two-wheelers
Electric vehicles charging infrastructure company EVI Technologies have partnered with RevFin, digital lending startup and electric three-wheeler makers Saarthi and Mayuri. The RevFin will finance e-rickshaws and e-two wheelers along with swappable battery solutions provided by EVI Technologies. The partnership will majorly cover states like Delhi-NCR, UP, Chhattisgarh, Haryana.
RevFin & EVI Technologies partnered
The companies aim to provide easy, cost-effective and eco-friendly last-mile transportation services. The EVI’s battery swapping solution and the only digital lending start-up in India to provide finance in the EV sector. This partnership will provide a sustainable mobility ecosystem, its easy low-cost finance will help in creating clean energy in especially in tier 2 and 3 cities.
EVI Technologies(EVIT) Founder and CEO Rupesh Kumar said the partnership will provide an easy solution to all challenges faced by EV drivers and the EV sector as a whole. “Together, we hope to have over 10,000 electric vehicles with swappable battery options on the road by the end of this fiscal year,” Kumar added.
Last year, RevFin received funds of ₹5 crores through angel investors. The digital lending start-up is building an advanced platform to underwrite and manage consumer loans through its own-banking finance company.
There are 2 types of loans, one is the regular amortizing loan used to finance an EV and customers need to pay it as usual monthly instalment basis and the second is the RevLoan, it is the revolving line of credit. In this customers can pay for what they use only. It is like a small overdraft/working capital facility.
RevFin financed 500 EVs in India
E-rickshaws are the most and highly used vehicles in India for everyday commutes. E-rickshaws are replacing the ICE three-wheelers and RevFin is contributing to reducing the carbon footprints from the country. Till now it has financed 500 EVs in India.
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