Finayo Raises INR 16 Crore Funding To Promote Its Mobility Business

EV Finance and Asset Management Platform FINAYO secures INR 16 crore equity and debt funding from F Mec International and CFPL.

F Mec and Choice Finserv focused on providing funding to transformative businesses. With a recent fund acquisition, Finayo strives to promote green financing among its users and accelerate its EV mobility business.

Brajendra Singh Tomar, co-founder and CEO of Finayo, said, “With the immense faith that F Mec International Financial Services and Choice Finserv have put into our capabilities, we aim to continue our noble mission by providing EV financing services to the underserved segment of the country. We want to use this funding to invest in cutting-edge technologies and expand our footprint across India while accelerating an inclusive network of EV financing."

Finayo intends to expand its business operations with OEMs and dealers through this joint venture in order to authenticate, manage, and produce immediate loan offers for a variety of EV buyers.

Additionally, the company plans to expand its network by allocating the acquired capital to strengthen its technological capabilities and hopes to achieve ground-breaking sales numbers with the aid of new funds.

Apoorve Bansal, Managing Director of F Mec International Financial Services Limited commented, “We see Finayo as a trailblazer in the EV ecosystem, recognising the enormous potential that the company carries and the surging need for sustainable mobility solutions, partnering with Finayo is poised to become a positive and invaluable venture. With our financial support and shared goals, we have delivered the impetus for Finayo to seismically alter the green mobility lending industry.”