Finayo targets to disburse Rs 100 crore funds for EV financing in FY2024
Finayo, an AI-enabled EV financing start-up platform in tandem with its strategic lending partners – Mufin Green Finance, Choice Finserve, and others projects Rs 100 crore funds disbursement in FY2024.
The startup states it has already disbursed Rs 20 crore and is aiming to drive penetration of EVs in India. Emerging as an asset in the EV and Green-tech investment portfolio, Finayo with this Rs 100 crore disbursement milestone will focus on augmenting the acceleration of the EV industry. As per the plan, it will disburse 60-70 percent of funds in the advancement of three-wheeler L3 and L5 EVs. While 30-40 percent disbursements will be made in the bolstering of the electric two-wheeler market.
