NEW DELHI, Dec 1: Electric vehicle financing digital platform RevFin is aiming to finance 20 lakh vehicles in the next five years, translating to loan disbursements of nearly Rs 20,000 crore, according to the company’s founder and CEO Sameer Aggarwal.
With an aim to disburse loans of about Rs 5,000 crore by the end of March 2026, the company, which primarily focuses on financing electric commercial vehicles, plans to raise USD 50 million in equity to fund growth over the next 18 months, he told PTI.
“From a five-year target perspective, we have set a target of financing 20 lakh vehicles,” he said when asked about the company’s plans.
In terms of disbursements, Aggarwal said financing 20 lakh vehicles “roughly translates to nearly Rs 20,000 crore”.
Sharing how the company has grown, especially in the last couple of years, he said, “We have now financed about 75,000 vehicles, and out of that, about 25,000 vehicles have only been financed this year. Last year, we did 30,000 vehicles in total”.
RevFin has disbursed loans over Rs 1,000 crore in total, and out of that, around Rs 400 crore have come only this year, he added.
In the next 18 months, the disbursement target is to grow it from Rs 1,000 crore to Rs 5,000 crore, he said, adding that “the number will then increase to about Rs 11,000 crore in the next year or so”.
When asked if the company is looking to raise funds, Aggarwal said, “To get the kind of growth, we will always need capital. We raise capital, both through equity and debt…Just from our next 12 to 18 months perspective, we would be raising equity equivalent to almost USD 50 million for growth that we need to achieve in the next 18 months”.
He further said whatever equity the company raises, it generally tends to raise “about four to five times of that in debt, on top of that”, acknowledging that RevFin would be looking at raising debt of another USD 200 million in the coming 18 months.
The company raised USD 14 million in a Series B funding round in December last year.
“Overall, we have raised almost USD 100 million in debt so far and about USD 20 million in equity,” he said, adding the company would be raising another round of equity “very soon” without divulging details.
RevFin would continue to focus on financing electric commercial vehicles despite the growth of EVs in the personal segment, Aggarwal said, adding that the commercial vehicle segment offers a larger growth opportunity and is poised to scale up significantly going forward. (PTI)
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