APM Finvest Changes Its Corporate Name To Mufin Green Finance To Fuel EV Ecosystem
Mufin Group, NBFC-ND has renamed its subsidiary APM Finvest to Mufin Green Finance to redefine its new avatar in Green Financing and become India’s first listed NBFC dedicated to EV Financing.
The Indian EV market is recognised for its huge growth potential with projections to reach USD 160 Bn by 2030, at a 90 per cent CAGR. Considering the government’s push to nurture the EV ecosystem and desire to reduce environmental pollution, Mufin Green Finance has undertaken the initiative to reduce the inequalities in providing loans to underserved segments in rural/ semi-urban areas.
To bring its 100 per cent focus on green financing, Mufin Green Finance expanded its horizon of financing Electric Vehicles to the financing of the Electric Vehicles ecosystem. As a result, it led to the addition of new products including financing and leasing of swappable and non-swappable batteries, EV chargers and battery top-up loans for existing customers.
Currently, Mufin Green Finance is growing at a rate of 20 per cent Month on Month. In June 2022, the company disbursed over 2100+ EV’s and plans to reach a monthly disbursement rate of 4000+ Electric Vehicles by the end of 2022 itself.
