Revfin secures USD 14M in Series B funding

Revfin, a digital lending platform in India focused on sustainable mobility and financial inclusion, has successfully concluded its Series B funding round, securing USD 14 million (INR 115 crore). Omidyar Network led the round with a USD 5 million investment, joined by the Asian Development Bank, Companion Capital Limited, and existing investors Green Frontiers Capital and LC Nueva. This funding brings Revfin’s total capital raised through debt and equity to INR 625 crore. Angel investors such as Dhiiraj Jain (Redcliffe Labs), Anuraag Jaipuria, Ruchi Rans Jaipuria, Rishi Kajaria, Let’s Venture Angel Fund, Harash Jain, and others also contributed in this funding round.

This recent capital infusion represents Revfin’s second significant fund raising in the last 12 months. The funding will strengthen Revfin’s presence as a lender in the electric vehicle space, primarily for two and three wheelers EVs, but also for other types of electric vehicles. Additionally, the funding will support various components of the EV ecosystem, including charging stations and batteries.

Sameer Aggarwal, Founder and CEO, stated, “I am delighted to announce that, with the backing of Omidyar Network and our esteemed investors, we have successfully raised $14 million. This funding will empower us to further enhance the EV ecosystem and contribute to the growth of all types of electric vehicles in India. Our unwavering commitment to revolutionize digital lending remains strong, and we look forward to the opportunities ahead.”

Also read: EV financing company Revfin raises $5 million investment from the US International DFC