Company:RevFin

From HandWiki
RevFin
TypePrivate
Founded2018
Headquarters
New Delhi
Area served
India
Key people
Sameer Aggarwal (CEO & Founder)

RevFin is a fintech platform headquartered in New Delhi. Founded in 2018, RevFin provides loans to individuals to purchase electric vehicles.[1]

History

Sameer Aggarwal, a graduate of IIT Kharagpur, founded RevFin in 2018.[2][3] He worked as a banker at HSBC. He then moved to London to work for Oakam as a Head of Risk and Analytics. Sameer came back to India in 2017 to start his venture. In 2018 he founded RevFin.[1] The company soon began providing loans for electric three-wheelers in 15 Indian states including Uttar Pradesh, Bihar, West Bengal, Uttarakhand, and Jharkhand.[1][4]

In 2018, RevFin received approval from the Reserve Bank of India to acquire Aristo Securities,[5] which was founded in 1994 and became a Non-Banking Financial Company in 2000.[6][7]

Funding

In October 2021, RevFin received $4 million in pre-series A funding round led by Dheeraj Jain, director of Redcliffe Life Solutions.[8] In March 2022, RevFin secured INR 100 cr in a debt financing round from Northern Arc, LiquiLoans, UK Charity Shell Foundation, and other investors.[9][10]

Partnership

In January 2020 RevFin made a partnership with PNB Metlife to provide life insurance to its customers.[11]

In March 2021 Revfin made a strategic partnership with LoadExx to launch an aggregation platform for Cargo electric vehicles.[12]

In May 2021 RevFin teamed up with Aeries communication for IoT-based Electric vehicles.[13]

In May 2022 Revfin partnered with Kinetic Green to provide loans for electric three wheelers.

In May 2022 RevFin entered into a partnership with Hero Electric to jointly finance electric two-wheelers.[14][15]

Awards

  • RevFin was selected as a part of the 2022 Inclusive Fintech 50 (IF50) cohort by Inclusive Fintech 50[16]

References

  1. ↑ 1.0 1.1 1.2 Singh, Rajiv (22 November 2021). "How Banker-turned-investor Sameer Aggarwal Is Financing The EV Revolution" (in en). https://www.forbesindia.com/article/ev-special-2021/how-bankerturnedinvestor-sameer-aggarwal-is-financing-the-ev-revolution/71685/1. 
  2. ↑ Mukherjee, Sharmistha. "RevFin eyeing up Rs 40,000 crore in loans over the next five years". The Economic Times. https://economictimes.indiatimes.com/industry/renewables/revfin-eyeing-up-rs-40000-crore-in-loans-over-the-next-five-years/articleshow/90303116.cms. 
  3. ↑ Suhail, Resham (26 April 2022). "Bullish On Leveraging Influence Of Digital Innovation In Fintech". Businessworld. https://bwdisrupt.businessworld.in/article/Bullish-On-Leveraging-Influence-Of-Digital-Innovation-In-Fintech/26-04-2022-426557/. 
  4. ↑ Soni, Yatti (2020-02-05). "RevFin Pumps Up EV Demand In Tier 3 India With Psychometric Loan Analysis" (in en). https://inc42.com/startups/revfin-pumps-up-ev-demand-in-tier-3-india-with-psychometric-loan-analysis/. 
  5. ↑ "RevFin Gets RBI Approval To Acquire NBFC" (in en). http://businessworld.in/article/RevFin-Gets-RBI-Approval-To-Acquire-NBFC/01-11-2018-163494. 
  6. ↑ Chaudhary, Vikram. "Interview with Sameer Aggarwal, Founder & CEO, RevFin" (in en). https://www.financialexpress.com/auto/industry/interview-with-sameer-aggarwal-founder-ceo-revfin/2266399/. 
  7. ↑ Bhaskar, Utpal (2021-07-31). "CESL in talks with NBFCs to reduce interest on EV loans" (in en). https://www.livemint.com/industry/energy/cesl-in-talks-with-nbfcs-to-reduce-interest-on-ev-loans-11627668351805.html. 
  8. ↑ Kaur, Jaspreet (2022-03-14). "Digital Lending Startup RevFin Bags INR 100 Cr For Business Expansion" (in en). https://inc42.com/buzz/ev-focused-lending-startup-revfin-bags-inr-100-cr-in-debt-for-business-expansion/. 
  9. ↑ Singh, S. Ronendra (2022-07-10). "RevFin to raise ₹250 crore to fund more EVs this year" (in en). https://www.thehindubusinessline.com/money-and-banking/revfin-to-raise-250-crore-to-fund-more-evs-this-year/article65619701.ece. 
  10. ↑ Mukherjee, Sharmistha. "EV demand for commercial use likely to increase by 15 times in 6 months". The Economic Times. https://economictimes.indiatimes.com/industry/renewables/ev-demand-for-commercial-use-likely-to-increase-by-15-times-6-months/articleshow/86534254.cms. 
  11. ↑ "RevFin gives loan to e-rickshaw customers during Covid-19 crisis". The Economic Times. https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/revfin-gives-loan-to-e-rickshaw-customers-during-covid-19-crisis/articleshow/74928495.cms?from=mdr. 
  12. ↑ www.ETAuto.com. "RevFin partners LoadExx to launch aggregation platform for cargo EVs - ET Auto" (in en). https://auto.economictimes.indiatimes.com/news/commercial-vehicle/lcv/revfin-partners-loadexx-to-launch-aggregation-platform-for-cargo-evs/81547134. 
  13. ↑ "RevFin, Aeris team up to bring smarter, safer IoT-based electric vehicles: All details" (in en). https://www.financialexpress.com/auto/electric-vehicles/revfin-aeris-team-up-to-bring-smarter-safer-iot-based-electric-vehicles-loan-performance-range-charging/2257936/. 
  14. ↑ Paul, Aakash (17 March 2022). "Hero Electric & RevFin join hands to makes adoption of EV two-wheelers easier" (in en). https://www.financialexpress.com/auto/electric-vehicles/hero-electric-revfin-join-hands-to-makes-adoption-of-ev-two-wheelers-easier/2527991/. 
  15. ↑ "EV funding in the fast lane" (in en-US). https://www.autocarpro.in/feature/ev-funding-in-the-fast-lane-92313. 
  16. ↑ "2022 Cohort" (in en-US). https://www.inclusivefintech50.com/2022-cohort. 



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