Revfin Doubles Two-Wheeler Portfolio with ₹100 Crore EV Acquisition

Revfin, a leading EV financing firm, is set to significantly boost its sustainable mobility strategy by acquiring 15,000 electric vehicles from SUN Mobility's platform, in a deal valued at ₹100 crore. This acquisition, expected to be finalized by the end of the month, marks a major expansion for Revfin, particularly in the EV mobility sector, where the company is targeting fleet operators and e-commerce platforms to drive growth.

The 15,000 electric vehicles currently managed by fleet operators on SUN Mobility’s platform will be transferred to Revfin’s records post-acquisition, although operational management will remain with the fleet operators. This strategic move allows Revfin to double its two-wheeler portfolio, reinforcing its position in the rapidly expanding last-mile mobility market. Sameer Aggarwal, Founder & CEO of Revfin, emphasized that this acquisition aligns with the company’s goal to strengthen its presence in the EV sector.

Anant Badjatya, CEO of SUN Mobility, highlighted the partnership's potential to accelerate EV adoption in India. By combining SUN Mobility’s cutting-edge platform with Revfin’s robust financing capabilities, both companies aim to drive significant growth in the EV sector. The collaboration is expected to create synergies that will support the scaling of electric mobility solutions across the country.

Revfin has already disbursed ₹900 crore in loans and plans to escalate this to ₹11,000 crore over the next three years by expanding into new markets and deepening its presence in existing ones. The company is aiming for a 20-25% market share in each segment it enters, positioning itself as a dominant player in the EV financing industry.

In summary, Revfin’s acquisition of 15,000 electric vehicles from SUN Mobility represents a strategic leap in its quest to dominate the EV financing market. With this move, Revfin is set to double its two-wheeler portfolio, bolster its presence in last-mile mobility, and solidify its market leadership in sustainable transportation.

News by Rahul Yelligetti