Perpetuity Capital, a prominent digital platform specializing in electric vehicle (EV) finance, is collaborating with Mufin Green Finance, India’s first listed Non-Banking Financial Company (NBFC) with a 100% focus on EV financing. The aim of this partnership is to expedite electric vehicle financing in India.
Mufin Green Finance has sealed a debt funding agreement with Perpetuity Capital, reinforcing its mission to promote sustainable and environmentally friendly mobility solutions. Through this partnership, Perpetuity Capital and Mufin Green Finance will support the financing of more than 1,000 electric vehicles in the current financial year.
Perpetuity Capital has outlined its intentions to utilize this partnership to facilitate the financing of commercial three-wheeler electric vehicles. The funds will be strategically directed to regions that have recently expanded their EV presence and areas where Mufin Green has limited physical coverage. Additionally, the funds will be allocated to finance auto rickshaw drivers and delivery drivers in regions with growing demand for electric mobility solutions.
This collaboration between the two organizations is expected to make a significant contribution to reducing carbon emissions and air pollution while simultaneously creating employment opportunities for driver-cum-owners (DCOs).
Karamveer Dhillon, CEO of Perpetuity Capital, expressed his enthusiasm, saying, “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 where banks are not present or are unwilling to bet on EVs.”
Kapil Garg, CEO of Mufin Green Finance, added, “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.
