PE-VC Fund Investments
Green lender Ecofy raises Rs.380.5 Cr from BII, Others
Mumbai-based green NBFC (Non-Banking Financial Company) Ecofy has raised INR 380.5 crore (USD 42 million) in fresh equity funding round from new investors British International Investment (BII) and Finnfund (through the Finnfund Digital Access Impact Fund I). Existing investors Eversource Capital and FMO also participated in the round.Founded in 2022 by Rajashree Nambiar and Govind Sankaranarayanan, Ecofy is a retail-led lending platform that finances eco-friendly products to help individuals and small businesses reduce their carbon footprint and serves customers across segments such as rooftop solar, electric vehicles, and other sustainable asset categories.The new funds will be used to support its expansion in rooftop solar, electric vehicles, and SME financing, aiming to scale its retail-focused green lending operations.
Between Jan 2024 and Mar 2025, Ecofy had attracted about USD 23 M from FMO and Impact Fund Denmark.For FY25, Ecofy had reported about INR 100 Cr in Operating Income and about INR 35 Cr in Net Loss.
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