EV Mechanica

Subscribe to EV Mechanica's Current Newsletter & never miss an update!

    Close Menu
      Facebook X (Twitter) Instagram
      EVMechanicaEVMechanica
      EVMechanicaEVMechanica
      • Home
      • News
        • E-Mobility
        • EV Battery
      • Charging Stations
      • Policy
      • Research
      • Interview
      • Jobs
      • Events
      • E-Mag
      • Subscription
      Facebook YouTube LinkedIn WhatsApp
      EVMechanicaEVMechanica
      Home » Global Fintech Company Begins its Operations in Kerala

      Global Fintech Company Begins its Operations in Kerala

      Aishwarya SaxenaBy Aishwarya SaxenaOctober 27, 2022 E-Mobility 2 Mins Read
      Share
      Facebook Twitter LinkedIn WhatsApp

      Electric Vehicle financing firm, Three Wheels United (TWU) has recently begun its operations in Kerala.

      TWUTWU flagged off its services in Kochi, Kozhikode, Thrissur, Thiruvananthapuram and Malappuram.

      Over the next six months, the company plans to finance 1000+ two and three-wheelers in Kerala.

      Three Wheels United provides affordable financing solutions for drivers to easily make the switch from conventional vehicles to EV two and three-wheelers. Founded by Cedrick Tandong, Kevin Wervenbos, and Apurv Mehra in 2017, the company has been steadfastly working towards removing financial barriers in the adoption of EVs in India and now globally.

      Cedrick Tandong, CEO and Co-Founder, Three Wheels United, said, “The adoption of Electric Vehicles has seen a steady increase in Kerala and the demand for EVs has significantly increased over the years. We believe that access to affordable financing can further contribute to the mass adoption of EVs in the state. After an overwhelming response in Karnataka and Delhi NCR, we are excited to launch operations in a key strategic market like Kerala. We look forward to supporting micro entrepreneurs to switch to cleaner and more economically viable last-mile alternatives.”

      The company claims that because of its platform, micro entrepreneurs can get a fair interest rate and loans covering up to 100% of the cost of the vehicle without any collateral.

      Unlike traditional banks that collect EMIs at the end of the month in a big chunk, the platform incentivizes money collection on a daily/weekly basis in small amounts.

      In doing so, TWU can tap into the finances of the drivers when the drivers make money and in a way that is aligned with the lifestyle of the drivers, the company adds.

      Three Wheels United says it has over 50,000 drivers on its platform, offering them various products and services.

      The company has financed over 4000 auto-rickshaws resulting in the reduction of 1,72,000+ tonnes of CO2 emissions, and the generation of an extra $71M in income for the drivers, it claims.

      TWU recently raised $10 million as a part of Series A funding led by Delta Corp Holdings with participation from new and existing investors.

      adoption finances financial barriers loans micro entrepreneurs news Series A funding Three Wheels United
      Share. Facebook Twitter LinkedIn WhatsApp
      Aishwarya Saxena

      More article from Aishwarya Saxena

      Keep Reading

      Maruti Alto Electric launched at ₹4L, 560km range

      OPG Mobility boosts leadership for EV growth

      Honda Activa EV debuts, college favorite

      Leave A Reply Cancel Reply

      13 + nineteen =

      E-MOBILITY

      OPG Mobility boosts leadership for EV growth

      May 12, 2025

      Delhi HC orders seizure of 129 more EVs

      May 12, 2025

      Mitsubishi Confirms U.S. EV Launch in Momentum 2030 Plan

      May 9, 2025

      Honda Activa EV: 210km Range, Affordable

      May 9, 2025

      Articles

      EVSE Innovations: Why Smart AC chargers are becoming preferred solutions for Indian housing estates

      The global emphasis on electric vehicles (EVs) is comparable to the early 18th-century innovation of…

      The Rise of Automotive Ethernet: Redefining In-Vehicle Communication

      The modern automobile is no longer just a mode of transportation, it’s a hub of…

      EV Charging Station Safety and Cybersecurity: The Hidden Challenges in India

      India’s electric vehicle (EV) revolution will soar rapidly in 2025 driven by policies of the…

      © 2025 EVMechanica.com.
      • Home
      • About Us
      • Contact Us
      • Subscription

      Type above and press Enter to search. Press Esc to cancel.