Perpetuity Captial Launches mobile application aimed at offering hassle-free financing experience

Through this app, mobility players and single-owner drivers can apply for commercial vehicle loans in 3 easy steps from the comfort of their homes.Perpetuity Capital, a trade name of Oracle Marketing Pvt. Ltd., aims to empower logistics players by offering them finance in a quick and efficient way for their operations and expansions.

Perpetuity Capital, an NBFC focused on serving entrepreneurs in the commercial EV sector, has announced the launch of its Android mobile application to give its customers a seamless financing experience. Through this app, mobility players and single-owner drivers can apply for commercial vehicle loans in 3 easy steps from the comfort of their homes.

Perpetuity Capital, a trade name of Oracle Marketing Pvt. Ltd., aims to empower logistics players by offering them finance in a quick and efficient way for their operations and expansions. With a direct loan application, the turnaround time (TAT) is reduced to 72 hours, and borrowers don't have to deal with intermediaries or loan brokers.

Players can download the application from the Play Store and apply for a loan with 3 KYC documents, a PAN card, an Aadhar Card, and a driving license for instant verification. This step also reduces the number of fraudulent loan applications for the company. The entire process is carried out digitally, and once approved, users can easily track and make payments online directly via the app. The company has its own proprietary risk-assessment method that uses credit decision-making models that are based on data, AI, and machine learning that speeds up the approval process.

Announcing the app launch, Karamveer Singh Dhillon, Co-founder and CEO of Perpetuity Capital, said, ''We have always focused on the digital-first model. With the launch of the Perpetuity Capital app, our customers get direct access to all processes, from eligibility check to loan application. We can now process approval and loan disbursement within 24–72 hours. We are excited about this launch and will continue to offer new updates and features to our customers.'' Since most electric vehicles are IoT-enabled smart automobiles, Perpetuity Capital is looking at allowing its borrowers to monitor the health of these assets via its app. The IoT devices will allow fleet owners to monitor drivers' behavior and how responsibly their vehicles are being driven. The company also has plans to give its customers a scorecard for their vehicles in the upcoming months. It will allow owners to monitor the health of their assets and give the company the ability to assess the value of their vehicles in real-time.

The company had raised 1 crore INR in debt funding this August and is in talks with a number of investors for a subsequent funding round of debt and equity. The company expects the EV commercial vehicle space to really take off in the next 18–24 months as infrastructure is built around EVs. Perpetuity Capital aims to leave no stone unturned to make it easy and affordable for small fleet owners in India, who are the main stakeholders in the Indian logistics industry. About Perpetuity Capital Perpetuity Capital was established by Karmveer S. Dhillon and Karan Dhillon in 2017. It is a NBFC- Non-Banking Financial Company-headquartered in Kolkata, India. The company enables asset ownership for single owner operators, drivers, and underserved entrepreneurs in the auto sector to ensure financial inclusion.

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