# RevFin Services Private

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/revfin-services-private

- Industry: Financial Services
- Headquarters: New Delhi, India
- Website: www.revfin.in
- Total disclosed funding: $18M
- Latest round: Series B (Dec 27, 2023)
- Investors on record: 8

## About

RevFin Services Private Limited, based in India, specializes in providing innovative financing solutions for electric vehicles, catering to a diverse clientele, including first-time borrowers and fleet owners, while promoting sustainable transportation.Founded in 2018 and headquartered in New Delhi, India, RevFin Services Private Limited focuses on financing solutions specifically for electric vehicles. The company's founder is Sameer Aggarwal, who serves as the CEO. RevFin has successfully completed 11 deals and recently raised INR 115.000 mn in a Series B funding round, led by Omidyar Network, with participation from Asian Development Bank, Companion Fund, Green Frontier Capital, and LC Nueva Capital. This round marks the total amount raised by the company, reaching INR 115.000 mn.RevFin specializes in providing innovative financing solutions specifically tailored for electric vehicles (EVs). Their core product offering focuses on electric vehicle loans aimed at a diverse customer base that includes individuals and fleet owners, particularly startups within the gig economy. The company addresses a critical need by enabling customers, many of whom are first-time borrowers without prior credit history, to access affordable financing options for electric vehicles. This initiative promotes the adoption of sustainable transportation and supports the Government of India’s Net Zero Mission by facilitating the transition from conventional fuel-powered vehicles. Revfin's clientele predominantly consists of residents from Tier 2, 3, and 4 towns, with a notable commitment to gender inclusivity, as evidenced by the 25% female customer representation. The geographical markets served by Revfin encompass a wide array of locations across India, focusing on underserved areas that traditionally face financial barriers.Revfin's revenue model is primarily driven by the issuance of electric vehicle loans to its diverse customer base. Transactions typically involve direct lending agreements where customers finance their electric vehicle purchases through tailored loan products. These loans are structured to meet the specific needs of customers, with a focus on affordability and accessibility. By establishing partnerships with electric vehicle manufacturers and local dealerships, Revfin enhances its reach and facilitates smoother transactions for consumers. In 2023, RevFin reported a revenue of INR 1,606,004.10 and an EBITDA of INR -204,902.80.RevFin Services Private Limited is set to expand its offerings with new electric vehicle loan products designed for broader customer segments, aiming for a roll-out by mid-2024. The company plans to target additional regions within India, specifically focusing on Tier 1 cities to increase market penetration by the end of 2024. The recent funding raised, including the undisclosed amount from AXIAN Investment, will be allocated to enhance their technological infrastructure and marketing efforts to support these initiatives.

## Funding rounds

- Series B, Dec 27, 2023, $14M — Omidyar Network, LVX, ADB Ventures, LC Nueva Capital, Green Frontier Capital, Companion Fund, Authentic Team Leather Private Limited
- Series A, Jun 29, 2022, $3.8M — LVX, LC Nueva Capital, Green Frontier Capital, Climate Angels

## Investors

- LVX (https://capitalatlas.ai/funds/lvx) — Series A, Series B
- LC Nueva Capital (https://capitalatlas.ai/funds/lc-nueva-capital) — Series A, Series B
- Green Frontier Capital (https://capitalatlas.ai/funds/green-frontier-capital) — Series A, Series B
- Climate Angels — Series A
- Omidyar Network (https://capitalatlas.ai/funds/omidyar-network) — Series B
- ADB Ventures (https://capitalatlas.ai/funds/adb-ventures) — Series B
- Companion Fund — Series B
- Authentic Team Leather Private Limited — Series B