Debt financing
Climate change focused NBFC Ecofy secures $15-M from Mirova
Mumbai-based Ecofy , a non-banking financial company (NBFC) specialising in climate change solutions, has raised USD 15 million in debt from Mirova. This follows earlier fundraising activities for INR 380.5 crore (approximately USD 42 million) Series B equity round co-led by British International Investment (BII) and Finnfund in March, and INR 90 crore from FMO, the Dutch entrepreneurial development bank, in January 2024.Co-founded in 2022 by Rajashree Nambiar and Govind Sankaranarayanan, Ecofy provides financing for economically sustainable climate initiatives such as electric vehicles, rooftop solar systems, energy-efficient equipment, energy storage, e-mobility, waste recycling, and water management. The fresh funds will be allocated towards supporting onward lending and financing residential and commercial & industrial rooftop solar installations, alongside electric mobility solutions across India. The company serves over 130,000 customers and operates across 26 states and more than 500 cities.
Between Jan 2024 and Mar 2026, Ecofy had attracted about USD 65 M from British International Investment, EverSource Capital, Finnfund, FMO and others.
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