RevFin targets financing 2 million electric vehicles in next 5 years

Electric vehicles (EV) financing digital platform RevFin Services is targeting to finance 20 lakh vehicles in the next five years, with an aim to grow three to four times every year, according to its CEO & Founder Sameer Aggarwal.

With the Indian electric vehicle industry poised for an accelerated growth, he said the company is confident of meeting its target and would continue to raise funds through debt and equity going forward for the purpose.

"From a long-term perspective we have taken a very strong position on EVs, and we have committed to financing two million electric vehicles in the next five years," Aggarwal told PTI.

Asked if the target is not too steep, considering RevFin has financed 17,118 EVs in the last 51 months, he said,"The monthly loan disbursement is growing month-on-month by about 15 per cent. So overall, it has grown almost four times in the last one year. If we continue the kind of growth that we are currently on we will actually achieve these numbers."

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