#revfin

[urami]

Have a good weekend & happy Halloween everyone!

[autoevtimes]

https://autoevtimes.com/revfin-appoints-leadership-targets-%e2%82%b95000-crore-ev-financing-by-2027/

[autoevtimes]

Revfin And Bajaj Auto collaborate to promote High-Speed Electric Three-Wheelers

Revfin has initiated a deliberate collaboration with Bajaj Auto, a producer of three-wheelers in India and 70 other countries.

[revfin]

Interview with Sameer Aggarwal, Founder & CEO, RevFin

RevFin, a fintech company, offers loans to electric vehicle (EV) operators, as also to people who want to move houses or renovate these, for celebrations such as wedding and vacations, and for emergency purposes. It has created a gamification platform where those who take loans can earn points through referrals and timely repayments. Its products include RevLoan (revolving credit limit), Rev-a-Thon (reward scheme for repaying on time) and Rev-a-Mate (referrals). In an interaction with FE’s Vikram Chaudhary, the founder & CEO of RevFin, Sameer Aggarwal, says that EV operators are most in need of loans right now. Excerpts:

Do you cater only to the digital literate population?

Those who use a smartphone and apply for loans via the smartphone on the app are our major customers.

Do you have your own non-banking finance company (NBFC)?

There is this NBFC called the Aristo Securities that was set up in 1994 and became an NBFC in 2000; we acquired it in 2018. Source Link

[revfin]

The outlook of fintech in India for various business models in 2022

Every other business in India has grown to rely on FinTech to answer their financial needs promptly. The combination of security, speed, automation, and convenience is simply too good to ignore. In recent years, FinTech has attained unprecedented growth in India, ranked the third-largest globally, and valued at a whopping $31 billion. Given the aggressive reliance on technologies these days, the value of FinTech is sure to redefine several market benchmarks. 

Considering its prominence in the world and, more importantly, in India, here’s a glimpse of how extensively FinTech has evolved and how it continues to transform Indian businesses.

How has FinTech Evolved & Benefitted Indian Businesses?

Digital Innovation Ensures FinTech Does Not Stagnate: Progress cannot be stemmed. There is always the search for the next best thing. Today’s technological market is such that every step taken towards advancement aims to provide grander benefits and convenience to consumers. This factor has greatly enabled the evolution of FinTech. Services like mobile money would allow consumers to control their finances using their smartphones. The peer-to-peer (P2P) or marketplace lending allows several prospective entrepreneurs to engage with investors. Robo Advice provides greater precision and accuracy when providing financial services. Not to mention, Insuretech (insurance technology) & Crypto-Asset have significantly redefined what is possible with FinTech. FinTech has been of significant benefit in India’s budding Electric Vehicle sector. Fintech companies have been primarily responsible for providing credit supply solutions to interested buyers, digital payment solutions for drivers and have even offered an incredible ecosystem where insurance providers, battery manufacturers, and other key players of the electric vehicle domain can connect seamlessly. They have stepped up in a sector that conventional financiers ideally avoid. The influence of technology has not limited these services to India, but is being extensively accepted and implemented throughout more significant parts of the world. There is no limit to the influence of digital innovation in FinTech, and there is no definitive mark of the advantages this provides consumers and businesses alike.  Source Link

[revfin]

Revfin raises $10 million to expand its EV financing presence to 25 states

NEW DELHI: EV financing platform for individual drivers, Revfin, has closed its Series A round of funding worth $ 10 million in a combination of equity and debt. The funding round was led by Green Frontier Capital (GFC), India’s first-ever VC fund focusing specifically on climate investments, which is managed by Sandiip Bhammer and Rudra Dalmia and LC Nueva Investment Partners, a partnership between Singapore’s Lighthouse Canton and New Delhi based Nueva Capital, alongside participation from existing investors.

In connection with GFC’s investment, Ajay Gupta, Senior Partner Emeritus at McKinsey & Co. will also be joining the board of Revfin. Gupta is an alumnus of IIT Delhi and Stanford University and sits on the board of several companies in the US and India. Source link

[reportwire]

RevFin to raise ₹250 crore to fund more EVs this year

RevFin to raise ₹250 crore to fund more EVs this year

Digital lending platform RevFin, a lender to people at the bottom of the pyramid said, it would raise ₹250 crore this year through debt and equity to finance electric vehicle (EVs) buyers in the three-wheeler and two-wheeler categories. The company, which is majorly into financing three-wheeler EVs is now planning to enter small four-wheeler EVs financing, with Tata Motors and Omega Seiki…

View On WordPress