Mufin Green Finance is a non-banking financial company (NBFC) that provides tailored financing solutions for electric vehicles, including two-wheelers, three-wheelers, and charging infrastructure, to facilitate income generation for underserved segments. By offering low-cost loans and a digital onboarding process, the company addresses the financial barriers faced by individuals and businesses transitioning to electric mobility.
Funding
$18M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Access to affordable financing remains a significant barrier to electric vehicle (EV) adoption, particularly for underserved populations and income-generating purposes. Traditional financial institutions often have stringent requirements, making it difficult for individuals and small businesses in semi-urban and rural areas to secure loans for EVs.
Solution
Mufin Green Finance is a non-banking financial company (NBFC) that specializes in providing tailored financing solutions for electric vehicles and related infrastructure. The company focuses on enabling income generation through EVs by offering accessible financing options for electric two-wheelers, three-wheelers, and charging infrastructure. Mufin Green Finance utilizes a digital onboarding process and centralized credit underwriting to streamline loan applications and ensure quality client selection. By financing EVs, Mufin Green Finance helps reduce carbon emissions and promotes financial inclusion for unbanked or underserved segments of the population, including women and e-rickshaw drivers.
Target Audience
The primary target audience includes individuals and businesses in semi-urban and rural areas seeking financing for electric vehicles for income generation, as well as charge point operators looking to expand their infrastructure.
Features
- B2B and B2C financing for electric two-wheelers, three-wheelers, and four-wheelers
- Financing solutions for electric vehicle charging infrastructure and swappable battery systems
- Digital onboarding process for borrowers with real-time credit checks
- Centralized credit underwriting for quality client selection
- In-house sales and collection team to ensure accountability and service quality
- Partnerships with dealers and OEMs to ensure association with credible partners
- Hospicash policy providing medical assistance of up to ₹50,000 for drivers and their families