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Sameer Agarwal, founder and CEO of Revfin, is spearheading the digital transformation of India's electric vehicle (EV) market. With EVs expected to explode to more than 100,000 units per month in the second half of 2023 and grow into a USD 113.99 billion industry by 2029, Revfin is a forward-looking investor. is at the forefront. Founded in 2018, Revfin leverages cutting-edge technology as the foundation of its business and has already financed 35,000 electric vehicles.
“Our innovation has disrupted this sector and enabled us to take on previously untapped areas,” Agarwal said. Revfin's digital lending platform, powered by AI/ML technology, offers a variety of financing options covering electric 2W, 3W, and EV accessories. We respond to a wide range of customer needs, from loans and leases to rental towns and pure rentals.
Revfin has made significant progress after securing Series A funding last year. Agarwal said they will contribute to the 2030 Net Zero Goal and the United Nations Sustainable Development Goals, in areas such as poverty reduction, gender equality, clean energy, decent work, inequality reduction and climate action. point out that it is having an impact.
The company's commitment to social impact has resulted in tangible results, including the creation of 35,000 jobs, the economic empowerment of women (24% of customers), more than 775 million green kilometers, and significant reductions in CO2 emissions. is reflected in.
He emphasizes a holistic, ecosystem-based approach to ensuring vehicle roadworthiness and customer revenue generation opportunities. Revfin operates a high-growth business model while maintaining profitability.
Looking ahead, Revfin aims to finance 5 million EVs over the next five years and plans to quadruple its sales in two years. Mr. Agarwal envisions widespread growth, covering 25 states, over 1,000 cities, and partnering with over 70 manufacturers and his 1,500 dealers.
Revfin's journey isn't just about financing your vehicle. It's all about promoting a sustainable future, one electric vehicle at a time.
Technical specifications
•Starting year: 2018
•no. Number of employees: 290 (as of October 31, 2023)
•Revenue for FY 2022-23: Rs 31.25 billion
• External funding received so far: Shell Foundation, USDFC, SIDBI, Green Frontier Capital, AU Small Finance Bank, Shivalik Small Finance Bank, Northern Arc Capital, Vivriti Capital, LC Nueva
• All developed/patented intellectual property –IP- Psychometric-based underwriting methodologies
