Revfin, an EV financing platform, has raised $10 million in series A funding led by Green Frontier Capital (GFC) and LC Nueva Investment Partners, a partnership between Singapore’s Lighthouse Canton and New Delhi-based Nueva Capital, alongside participation from existing investors. In addition, Ajay Gupta, Senior Partner Emeritus at McKinsey & Co., will also be joining the board of Revfin.
Revfin plans to use the funds to expand its geographical footprint to 25 states and capture over 10 per cent national market share of financed electric three-wheelers. The funds will also be used to diversify into two-wheelers for last-mile deliveries and four-wheelers for mid-mile cargo delivery and ride-share taxis.
