Finayo has successfully secured Rs 160 million in funding. The investment comes from F Mec International Financial Services, Choice Finserv (CFPL), and other angel investors and high-net-worth individuals.
The money will go toward making investments in cutting-edge technology, growing Finayo’s footprint throughout India, and quickening the creation of an extensive network for EV financing.
The company’s purpose is to support the widespread adoption of electric vehicles (EVs) and help India reach its zero net emissions target.
By empowering lenders, OEMs, and dealers to effectively handle and provide instant loan offers for different EV consumers, Finayo aims to democratize the EV lending process.
With a common goal of generating job opportunities in the green transportation industry, the partnership with F Mec International and CFPL is intended to broaden commercial operations and promote national growth in the EV sector.
Finayo was founded in 2020 and functions as a technology-driven financing platform with an emphasis on green mobility. It uses its software as a service platform to facilitate easy connections between lenders and EV retailers’ clients.
As a result, loan decisions are made more quickly, saving merchants and original equipment manufacturers time when securing financing for their clients.