Three Wheels United Raises $10 Million In Series A Funding

Three Wheels United (TWU), a fintech company for EV financing, has raised $10 Million as a part of Series A Funding led by Delta Corp Holdings with participation from new and existing investors.

The current funding round is a combination of equity and debt from Delta Corp Holdings with participation from existing investor Techstars.  The round also saw participation from investors in the Middle East, Europe and from Grip Invest.

The company says the new investment will be used towards entry into new geographies in India and international markets & for strengthening operations and enhancing TWU’s technology platform.

Cedrick Tandong, CEO and Co-Founder of Three Wheels United, said, “The lack of affordable financing continues to be a key obstacle for low-income clients to switch to EVs. We have identified these challenges and we have created a scalable solution that is tailored for our clients. We intend to launch the two-wheelers category and expand to ten more cities by the end of this year. TWU has long-lasting partnerships with leading OEMs, aggregator platforms, battery swapping and charging operators, tech giants and other related infrastructure service providers.”

Three Wheels United has previously raised funding from Asian Development Bank Ventures, Techstars, Microsoft, and investors from the Middle East, Europe, and US.