"Revfin to Double Two-Wheeler Portfolio with Acquisition of 15,000 Electric Vehicles from SUN Mobility"

EV financing firm Revfin has strengthened its sustainable mobility strategy by acquiring 15,000 electric vehicles operating on SUN Mobility's platform, valued at ₹100 crore. The deal is set to be finalized by the end of the month, according to Revfin's Founder & CEO, Sameer Aggarwal.

This acquisition is part of Revfin’s expansion into the EV mobility sector, particularly targeting fleet operators and e-commerce platforms. The vehicles, which are currently managed by fleet operators on SUN Mobility’s platform, will shift to Revfin’s records post-acquisition, though operational management will remain with the fleet operators.

Anant Badjatya, CEO of SUN Mobility, emphasized the partnership’s role in accelerating EV adoption in India, stating that combining SUN Mobility’s platform with Revfin’s financing capabilities will spur significant growth in the sector.

Revfin, which has disbursed ₹900 crore in loans so far, aims to increase this to ₹11,000 crore over the next three years by expanding into new markets and enhancing its presence in existing ones. The company plans to capture a 20-25% market share in each segment it enters.

Aggarwal noted that the acquisition will allow Revfin to double its two-wheeler portfolio and bolster its presence in last-mile mobility, reinforcing its market position. Revfin has financed 65,000 vehicles in the past six months and works with fleet partners like Shadowfax, Log9, Evera, and Shoffr.

HBL