RevFin Gears Up for Massive Expansion in Electric Vehicle Financing

RevFin, an electric vehicle financing digital platform, plans to finance 20 lakh vehicles, disbursing nearly Rs 20,000 crore, over five years. With a keen focus on commercial electric vehicles, the company aims to raise USD 50 million in equity to support its growth trajectory.

Electric vehicle financing company RevFin has unveiled ambitious plans to fund 20 lakh vehicles over the next five years, corresponding to about Rs 20,000 crore in loan disbursements. The company's founder and CEO, Sameer Aggarwal, shared these targets during a recent interview.

To achieve its goals, RevFin intends to disburse loans worth Rs 5,000 crore by March 2026 and is seeking an equity injection of USD 50 million over the next 18 months. This move aims to facilitate the financing of commercial electric vehicles, which remains RevFin's primary focus despite the personal EV segment's growth.

The company has already financed approximately 75,000 vehicles, with 25,000 coming this year alone. Having raised USD 14 million in a Series B round last December and nearly USD 100 million in debt so far, RevFin continues to pursue avenues for additional funding to support its robust growth plans.

(With inputs from agencies.)