Hala Mobility secures INR 1 crore debt funding from Perpetuity Capital

Hala Mobility, the multi-modal EV ride sharing platform, secures debt funding of INR 1 crore from Perpetuity Capital, an EV Finance platform, to expand its fleet. Additionally, Hala has established a partnership with Perpetuity Capital to finance 500 Electric 2W over the next 12 months, aiming to support last-mile delivery drivers and gig economy workers in acquiring direct funding for electric vehicles for commercial purposes.

Hala Mobility operates over 2500 Electric 2-wheelers on their last-mile logistics platform, handling over 40,000 deliveries daily, added a company statement.

Karamveer Dhillon, founder of Perpetuity Capital, said, “We are excited about the partnership with Hala Mobility. Our partnership will allow us to integrate our tech stack, which will empower gig economy workers with their growing credit needs and get access to quicker EV loans,”.

Srikanth Reddy, Founder and CEO of Hala Mobility, said, “As we continue to witness the transformative potential of electric mobility, our partnership with Perpetuity Capital marks a significant milestone in our mission to revolutionize last-mile logistics. With this infusion of capital, we are poised to not only expand our fleet but also empower more drivers to embrace sustainable transportation solutions.”

Also read: Perpetuity Capital and Atul Auto sign MOU to finance 500 vehicles in the next year