Mufin Green Finance, a non-banking financial company, has raised US$18 million in debt funding from a United States-based institution.
This funding aims to expand its electric vehicle (EV) financing and leasing operations.
The 10-year facility begins with an initial disbursement of US$10 million. The remaining $8 million will be provided within a year.
The funds will be allocated to enhance financing for electric two-, three-, and four-wheelers, as well as related infrastructure.
A significant portion of the funding will improve credit access for micro, small, and medium enterprises (MSMEs), especially in underserved regions.
Founded in 2016, Mufin Green specializes in financing EVs, charging infrastructure, and swappable batteries.
Source: https://www.techinasia.com/
