RevFin has secured INR 100 crore in debt for business expansion
- ByStartupStory | March 14, 2022
According to a top company source, EV financing digital platform Revfin has raised Rs 100 crore in debt, which it intends to utilize to expand into new locations for financing three-wheelers and delve into giving loans for two-wheelers in the e-commerce delivery industry.
It plans to expand into regions such as Assam, Madhya Pradesh, Rajasthan, and Punjab for electric three-wheeler finance, with a goal of tripling revenue in the new fiscal year from its present rate of Rs 12 crore.
RevFin is a digital consumer lending business that gives loans to consumers, founded by Aggarwal in 2018. It operates in 18 Indian states and has over 350 dealership sites. It also has its own NBFC, which uses non-traditional data to make loans.
It is currently linked to a number of original equipment manufacturers (OEMs). It also claims to have disbursed loans of around INR 50 crore so far, with a repayment rate of 95%.
Kinara Capital, a digital lending firm, received INR 70 crore in investment from Invest in Visions GmbH in October 2021. (IIV). Using a digital-first approach, the business primarily provides unsecured collateral-free loans to MSMEs ranging from INR 1 lakh to INR 30 lakhs. It claims to have disbursed more than INR 2,400 crore in loans, totaling 65,000.
Indifi, U Gro, Capital Float, InCred, FlexiLoans, and Lendingkart are some prominent players in the digital lending industry, in addition to the aforementioned digital lending firms.
Follow Startup Story
Related Posts
