BatteryPool, India’s pioneering deeptech-fintech platform for EV battery financing, has partnered with leading financial institutions to bring the sachetized financing model to India’s commercial EV segment. Through its unique repayment option tailored for India’s underserved demographics, BatteryPool’s model enables daily, weekly, and prepaid 15 or 30-day EMI options on batteries for e-rickshaw drivers, gig workers, and fleet owners across the country. Their battery financing portfolio is currently deployed across nine cities in four states, powering commercial drivers in India’s western and central regions. The portfolio has demonstrated robust credit performance, with repayment rates of over 99% and tightly controlled credit losses for lending partners.
Founded in 2018, BatteryPool has built a proprietary charge-lock technology that embeds payment discipline directly into the battery system. In cases where a driver’s EMI payment is delayed, the battery cannot be recharged until the dues are cleared. Upon payment, charging access is automatically and seamlessly reinstated. Mitigating default risk, this breakthrough mechanism has attracted strong NBFC confidence, which are now scaling EV financing through BatteryPool. BatteryPool’s hardware-software-AI stack enables flexible payments and battery lifecycle control that traditional EV financing models do not offer.
The startup is currently working with two NBFC partners, including AMU Finance and Mufin, who are deploying a monthly credit line of INR 1-2 crore in battery financing through BatteryPool. With additional NBFC commitments in the pipeline, the company has access to a total deployment capacity of INR 25+ cr, which it aims to utilise as it expands its user base from 1,400 to 10,000+ over the next 12 months.
“Our mission is to make EV ownership attainable for every driver by linking affordability to technology,” said Ashwin Shankar, Founder and CEO of BatteryPool. “Our sachetized EMI model creates a new type of financial inclusion for drivers who live on daily earnings while offering lending partners a secure, digital collection system. We serve three key customer segments within India’s commercial EV ecosystem: individual e-rickshaw drivers, gig workers,. For e-rickshaw drivers, batteries make up nearly half the cost of the vehicle, making financing essential to ownership. Gig workers driving for last-mile delivery and quick commerce platforms also face similar affordability challenges. Our model bridges these gaps through flexible and technology-backed financial access.”
BatteryPool currently manages over 2,200 batteries and aims to scale this to 6,000 by March 2026. Its battery portfolio includes both rental batteries deployed under a Battery-as-a-Service model and NBFC-financed batteries owned by individual drivers through flexible EMIs. After 3–4 years of use, batteries are bought back by BatteryPool at a predetermined price, post which they are refurbished and redeployed for stationary energy storage or recycled, ensuring long-term asset value.
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