As India pushes for rapid adoption of electric mobility, access to affordable financing remains a critical bottleneck, especially for consumers outside metro cities. Revfin Services Private Limited is addressing this challenge by enabling underserved individuals in smaller towns to purchase electric vehicles (EVs) through its digital lending platform.
What is Revfin?
Founded in 2018 and headquartered in New Delhi, Revfin is a fintech startup operating at the intersection of climate impact and financial inclusion. The company offers loans for electric rickshaws, two-wheelers, and small commercial EVs, targeting first-time borrowers in Tier II and III cities. Revfin’s fully digital platform—powered by psychometrics, biometrics, and alternative data—allows it to assess creditworthiness and disburse loans in under 20 minutes.
Through its registered NBFC subsidiary, Aristo Securities, Revfin has already disbursed over ₹50 crore in EV loans, with 85% of its customers being new to credit. The platform is active across 18 states and 150+ districts, with a strong focus on Eastern Uttar Pradesh and Bihar.
Why Climate Angels Fund Invested in Revfin
At Climate Angels Fund, we invest in startups that deliver measurable climate impact while offering strong commercial potential. Revfin stood out on both counts. Here’s why we backed it:
1. Strong Climate and Social Impact Alignment
Revfin addresses two high-priority themes for Climate Angels: sustainable mobility and financial inclusion. By enabling EV ownership among low-income earners, the company reduces dependence on fossil fuels while helping individuals build livelihood assets. This creates a multiplier effect on both emissions reduction and household income—especially in geographies underserved by mainstream finance.
2. Scalable Fintech Model with Strong Risk Mitigation
EV financing for low-income consumers is a high-risk segment that most banks and NBFCs avoid. Revfin has built a unique digital lending infrastructure that de-risks this segment through:
Non-traditional credit assessments using psychometric and behavioral profiling
Strong OEM partnerships offering warranties, buyback guarantees, and after-sales support
Credit protection mechanisms including vehicle hypothecation and third-party surety partnerships
This full-stack approach makes Revfin’s model defensible and highly scalable across different regions and EV categories.
3. Proven Traction in Underserved Markets
Revfin has already financed thousands of EVs, helping create dignified self-employment opportunities for its users. It has also partnered with the Shell Foundation to finance EVs for 800 low-income drivers, impacting over 17,000 lives. Its rapid growth in semi-urban and rural India proves the platform’s relevance and adaptability to varied operating environments.
4. Visionary and Experienced Leadership
Revfin is led by founder and CEO Sameer Aggarwal, an IIT Kharagpur alumnus with global experience in banking, consumer credit, and analytics. The broader leadership team includes serial entrepreneurs and domain experts from finance, healthcare, and technology—creating a well-rounded bench to scale the business responsibly and rapidly.
Looking Ahead
Revfin is now expanding into electric two-wheelers and fleet financing, while also rolling out personal loans for existing customers to cover emergency needs. As India’s EV ecosystem matures and regulatory support strengthens, Revfin is positioned to emerge as a category leader in inclusive EV financing.
We believe Revfin is not just a fintech story, it’s a climate-tech and livelihood creation story rolled into one. And that’s exactly the kind of company we’re proud to back.
