New Delhi: Perpetuity Capital, a leading digital platform specializing in electric vehicle (EV) finance, is partnering with Mufin Green Finance, India’s first listed NBFC with a 100% focus on EV financing, to accelerate electric vehicle financing in India.
Mufin Green Finance has entered into a debt funding agreement with Perpetuity Capital, bolstering its mission to promote sustainable and environment friendly mobility solutions. Through the partnership, Perpetuity Capital and Mufin Green Finance will finance over 1,000 Electric vehicles this financial year.
Perpetuity Capital has detailed its plans to leverage the partnership to facilitate the financing of commercial three-wheeler electric vehicles. The funds will be strategically deployed into newly expanded regions, and regions where Mufin Green has limited physical presence. Moreover, the funds will go to finance auto rickshaw drivers and delivery drivers in targeted areas with growing demand for electric mobility solutions.
The synergy between these two organizations will significantly contribute to the reduction of carbon emissions and air pollution, while also creating employment opportunities for the driver cum owners (DCOs).
Karamveer Dhillon, CEO, Perpetuity Capital, said, “We are excited and humbled to partner with Mufin Green Finance to accelerate the adoption of electric mobility in India. This partnership exemplifies our shared commitment to fostering a sustainable and environmentally responsible future. This debt partnership could be the beginning of something bigger as we are also exploring co-lending opportunities with Mufin. Mufin Green Finance Limited is a company that has pioneered EV finance in India. Being a company based in East India we can help expand EV adoption in places banks are not present or are unwilling to bet on EVs.” Kapil Garg, CEO , Mufin Green Finance, said, “Mufin Green Finance is proud to fund Perpetuity Capital in their mission to drive the adoption of electric vehicles in India. We believe that together, we can make a substantial impact on reducing carbon emissions and creating more earning opportunities for the youth of our country.”
