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					</table><p>Electric Vehicle (EV) financing platform for individuals, <a href="https://www.revfin.in/" target="_blank" rel="noopener">Revfin</a><u>,</u> has raised $5 million in funding from the United States International Development Finance Corporation (<a href="https://www.dfc.gov/" target="_blank" rel="noopener">DFC</a>) with an aim to promote inclusive financing for EV adoption across India.</p>
<p>The strategic investment, made under DFC&#8217;s portfolio for impact and innovation, will help Revfin finance two million electric vehicles over the next five years.</p>
<p>With the support of funds from DFC, Revfin, which has invested significantly in over 21,800 electric three-wheelers, aims to solidify its position as a leader in India&#8217;s EV financing landscape.</p>
<p>Additionally, the company intends to diversify its offerings by venturing into financing two-wheelers for last-mile deliveries, four-wheelers for mid-mile cargo delivery, and ride-share taxis.</p>
<p>Sameer Aggarwal, Founder and CEO of Revfin, emphasized the immense potential of the EV industry in India and the employment opportunities it offers.</p>
<p>He noted that limited financing options hinder the industry&#8217;s growth. Aggarwal expressed gratitude for DFC&#8217;s forward-thinking investment in Revfin, believing it will significantly scale up EV adoption and enhance financial inclusion.</p>
<p>&#8220;The investment will enable Revfin to expand access to attractive financing solutions, playing a crucial role in driving EV demand and aiding India in achieving carbon neutrality,” Aggarwal said.</p>
<p>Jim Polan, Vice President of DFC&#8217;s Office of Development Credit, highlighted the partnership with Revfin as a means to support inclusive EV financing and promote EV adoption in India. Polan stated that this investment showcases DFC&#8217;s ability to mobilize capital to support Indian innovation while creating financial opportunities for underserved communities.</p>
<p>Revfin offers financing products for different types of EVs through original equipment manufacturers (OEMs) and fleets.</p>
<p>The company said it has facilitated more than 456 million kilometers of emission-free travel, reducing CO2 emissions by 43,650 tons, generating 21,800 employment opportunities, and directly or indirectly improving the lives of 7.6 million people.</p>
<p>In October last year, Revfin <a href="Revfin%20closed%20a%20Series%20A%20funding%20round%20of%20$10%20million%20in%20a%20combination%20of%20equity%20and%20debt.%20The%20funding%20round%20was%20led%20by%20Green%20Frontier%20Capital%20(GFC),%20a%20venture%20capital%20fund%20focusing%20specifically%20on%20climate%20investments,%20with%20participation%20from%20existing%20investors." target="_blank" rel="noopener">closed</a> a Series A funding round of $10 million in a combination of equity and debt. The funding round was led by Green Frontier Capital, a venture capital fund focusing specifically on climate investments, with participation from existing investors.</p>
<p>In September 2022, Revfin and a group of financiers, including Mufin Green Finance, Akasa Finance, Prest Loans, Vedika Fincorp, and Grip Invest, <a href="https://mercomindia.com/daily-news-wrap-up-amplus-solar/" target="_blank" rel="noopener">launched</a> the Electric Mobility Financiers Association of India. The association’s mission is to enable the fast adoption of electric mobility, shape policies, and guidelines, and mitigate risks associated with electric mobility.</p>


US-based DFC Invests $5 Million in EV Financing Platform Revfin

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