Cleantech company Perpetuity Capital raises undisclosed sum

• ByStartupStory     |    December 28, 2022

Cleantech NBFC Perpetuity Capital has raised an undisclosed sum in debt financing, with UC Inclusive Credit serving as the lead arranger.

By providing financing to sole proprietor drivers and small fleet operators in the NCR, Karnataka, Bihar, and West Bengal, where it expects to use the money, the start-up will be able to build its loan book in the L5 segment. According to the firm, this will hasten the adoption of EV solutions among the underserved and unbanked people in the nation who do not have access to traditional bank loans.

Perpetuity Capital, a company founded in 2017, offers EV finance for business use through its platform. Perpetuity Capital obtained financing from Sungrace Finvest in April 2022.

“Going forward, we want to increase the number of data points to 200 and completely automate our underwriting process. We believe lending through our balance sheet gives us an advantage over our competitors in an interest rate up-cycle with the cost of capital increasing dramatically in the short and medium terms,” said Karamveer Dhillon, CEO of Perpetuity Capital.

A company called Perpetuity Capital provides tailored lending solutions for loans on commercial cars, personal vehicles, and two-wheelers. Customers can apply online through mobile or web. Through the company’s cutting-edge digital lending platform, users may apply for loans quickly and easily. Through their own lending firm (NBFC), which is overseen by the Reserve Bank of India, they offer lending products to their clients.

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