Total amount raised
$52.7 Million
Latest funding date
08/01/2024
Location
RevFin has successfully raised funds through 10 different funding rounds, attracting a total of 25 investors, including notable names like AXIAN Investment and Companion Capital. The platform specializes in financing electric vehicles, offering quick and affordable loans to promote sustainable mobility.
Keep reading to explore the intricacies of RevFin's fundraising journey and the investors backing this innovative platform.
What Is RevFin?
RevFin, based in Delhi, India, is a private company specializing in financing electric vehicles. The company operates within the finance, financial services, FinTech, and lending industries. With an employee count ranging from 251 to 500, RevFin has made significant strides in promoting sustainable mobility through quick and affordable loans for commercial EVs.
RevFin offers a comprehensive suite of services, including fleet acceleration, insurance comparisons, telematics technology, and partnerships in charging infrastructure. The company is committed to social and economic impact, focusing on environmental benefits, financial empowerment, and gender inclusivity.
How Much Funding Has RevFin Raised?
- Debt Financing
- Amount Raised: $7.2 million
- Date: August 2024
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand lending capabilities and support the growing electric vehicle market.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: February 2024
- Lead Investors: AXIAN Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial services and scale operations.
- Series B
- Amount Raised: $14 million
- Date: December 2023
- Lead Investors: Omidyar Network India
- Valuation at Round: $40 million
- Motivation Behind the Round: To support the EV ecosystem, including charging stations and batteries.
- Debt Financing
- Amount Raised: $5 million
- Date: June 2023
- Lead Investors: U.S. International Development Finance Corp
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and expansion efforts.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: December 2022
- Lead Investors: BlackSoil
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance financial services.
- Series A
- Amount Raised: $9.6 million
- Date: October 2022
- Lead Investors: Green Frontier Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and scale operations.
- Debt Financing
- Amount Raised: Not publicly disclosed
- Date: October 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the growing electric vehicle market.
- Debt Financing
- Amount Raised: $12 million
- Date: March 2022
- Lead Investors: LiquiLoans, Northern Arc, Shell Foundation
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance lending capabilities and support the EV market.
- Seed
- Amount Raised: $3.6 million
- Date: October 2021
- Lead Investors: Redcliffe Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and scaling.
- Seed
- Amount Raised: Not publicly disclosed
- Date: October 2018
- Lead Investors: Harash Jain
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch and establish the company.
RevFin has raised a total of $51.4 million in funding. The current valuation is $40 million.
Key Investors
- Omidyar Network
- Details: Omidyar Network is a philanthropic investment firm established by eBay founder Pierre Omidyar. It focuses on creating social impact through investments in various sectors.
- Investment Focus Areas: Social impact, financial inclusion, digital identity, education, governance.
- Notable Investments: LenddoEFL, Aspiring Minds, Kalibrr.
- Asian Development Bank
- Details: The Asian Development Bank (ADB) is an international development finance institution that aims to promote social and economic development in Asia. It provides loans, technical assistance, grants, and equity investments to its member countries.
- Investment Focus Areas: Infrastructure, environment, regional cooperation, financial sector development.
- Notable Investments: Large-scale infrastructure projects, renewable energy initiatives, financial inclusion programs.
- Companion Capital
- Details: Companion Capital is a venture capital firm that invests in early-stage startups and companies with innovative business models. It aims to support high-growth potential companies.
- Investment Focus Areas: Early-stage startups, technology, innovative business models.
- Notable Investments: Various early-stage technology startups.
- Green Frontiers Capital
- Details: Green Frontiers Capital is an investment firm focused on sustainable and green technologies. It aims to support companies that contribute to environmental conservation and renewable energy.
- Investment Focus Areas: Sustainable and green technologies, renewable energy, environmental conservation.
- Notable Investments: Companies focused on renewable energy solutions, sustainable agriculture, environmental technologies.
- LC Nueva
- Details: LC Nueva is a venture capital and private equity firm that invests in early-stage and growth-stage companies. It aims to support innovation-driven businesses.
- Investment Focus Areas: Early-stage investments, technology, innovation-driven companies.
- Notable Investments: Various startups and growth-stage companies.
What's Next for RevFin?
RevFin is poised to capitalize on the burgeoning electric vehicle (EV) market, particularly in underserved and remote areas. With recent funding, the company aims to enhance its technological infrastructure and expand its digital lending services, targeting a potentially vast and untapped market. This expansion is expected to significantly increase their customer base and market penetration.
Future fundraising opportunities appear promising, as the successful Series B round indicates strong investor confidence. RevFin plans to raise additional funds to support its ambitious goal of financing 2 million electric vehicles over the next five years. This will likely attract further investment, enabling the company to scale its operations and explore new segments such as battery and charging infrastructure financing.
However, challenges remain. Regulatory hurdles, competition from other fintech and traditional financial institutions, and ensuring the security and reliability of their digital platform are significant obstacles. Additionally, the lack of a secondary market for EVs and an immature vehicle servicing ecosystem could pose difficulties. Despite these challenges, RevFin's strategic partnerships and focus on innovation position it well for future growth and success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like RevFin and gather other critical business insights. Sign up for free to start enhancing your sales strategies today.
