Perpetuity Capital raises Rs.1-Cr in funding from Sungrace Finvest

Perpetuity Capital, an asset-backed lending firm, has secured INR 1 crore in venture finance from Sungrace Finvest. Founded by Karamveer Dhillon, Perpetuity Capital is non bank finance company (NBFC) that enables asset ownership for single owner operators and underserved entrepreneurs in the auto sector who do not have access to capital from organized lenders and banks. Over the next three months, the company will finance 200 vehicles in collaboration with EV maker Euler Motors and various last-mile mobility players. The new funds will be used to expand its footprint by opening offices in Pune, Hyderabad, and Ahmedabad.