Debt financing
EV financing startup Revfin raises $5-M from US DFC
Delhi-based electric vehicle (EV) financing startup RevFin has raised USD 5 million from US International Development Finance Corporation to expand its two- and three-wheeler financing, as well as explore new markets. The startup, which raised USD 10 million in October last year from Green Frontier Capital (GFC) and LC Nueva Investment Partners, hopes to use the funding to expand its commercial fleet, including ride-sharing taxis. Founded in 2018 by Sameer Aggarwal, Revfin provides commercial fleet drivers loans that it underwrites using proprietary underwriting methods that include psychometrics, biometrics, telematics, and gamification.
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