Revfin, a digital consumer lending platform underwriting financially excluded and underserved segments, has kickstarted its ambitious #RevFinBharatYatra campaign by foraying into the EV leasing business in Delhi. The lending company has signed a deal with Zyngo EV Mobility Private Limited to finance and lease 25+ L5 3-Wheelers and 200+ high-speed 2-Wheelers in the next three months in areas around Delhi and Bangalore for hyperlocal deliveries and work towards transforming the face of mobility.
Revfin targets financing 2 million electric vehicles in the next five years. Through its recently launched #RevfinBharatYatra campaign, the EV financing company aims to reach out to new states and have footprints in 50 cities with 1000 dealers and targets adding 10,000 new customers. It also targets initiating five new partnerships in different forms of mobility, like 2W, 3W, 4W, with e-commerce and other last-mile connectivity operators.
Prateek Rao, CEO and co-founder, Zyngo EV Mobility, said “We are driving ahead the electrification of last-mile delivery services across the E-commerce spectrum. This initiative requires such collaborations to enable the empanelment of the EV ecosystem in the last-mile delivery space. Revfin’s financing solutions combined with Zyngo’s fully competent and advanced logistics tech platform and fleet management will strive the EV ecosystem and enable faster adoption.”
By announcing its new vertical of leasing with Zyngo, Revfin Services Private Limited targets accelerating the logistics towards sustainability and revolutionising mid-mile and last-mile deliveries. So far, 25 EVs have been deployed in the Delhi region for mid-mile and last-mile deliveries. The leased vehicle would be available for up to three years. This model offers greater ease over ownership and preference for personalised services, which will take customer engagement to a new level.
Sameer Aggarwal, founder, and CEO of Revfin said, “By partnering with Zyngo, Revfin can change the ownership trend and make EV leasing, a viable alternative to increase electric mobility penetration in the country.”
Revfin has already disbursed over $18 million to fund over 13,000 electric vehicles in 15 states with 550+ dealerships and 10+ top original equipment manufacturers (OEMs).