Debt financing
EV loans provider Mufin Green secures $18-M
New Delhi-based Mufin Green Finance has raised USD 18 million in debt funding from a US-based institution to expand its electric vehicle (EV) financing and leasing operations. The 10-year facility includes an initial disbursement of USD 10 million, with the remaining USD 8 million expected within a year. Dexter Capital was the exclusive advisor on the transaction.The capital will help scale its offerings for electric two-, three-, and four-wheelers, as well as related infrastructure, improving credit access for micro, small, and medium enterprises (MSMEs), particularly in underserved regions.Founded by Kapil Garg and Rajat Goyal, Mufin Finance?, under the parent company Hindon Mercantile Limited, began financing e-rickshaws in 2016 in the Delhi-NCR region and later became India’s first listed pure-play EV financing company. Its product suite includes financing for EVs, charging infrastructure, and swappable batteries.
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