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News on Medial
IPV again backs Edtech startup MyCaptain, Mufin Green Finance secures debt investment
VCCircle
·
1y ago
Medial
Edtech startup MyCaptain has secured $1.7 million in funding from investors including Inflection Point Ventures and Ankur Capital. The funds will be used to expand the company's presence in new cities, establish sales centers, and launch additional courses. MyCaptain, founded in 2016, offers career guidance and practical skills training to students in various fields. Another company, non-banking finance player Mufin Green Finance, has raised $5 million in debt funding from impact investor BlueOrchard. The funding will support Mufin's green and energy initiatives, particularly in the electric vehicle sector.
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Mufin Green Finance raises $5M in debt from BlueOrchard
IndianStartupNews
·
1y ago
Medial
Mufin Green Finance has secured $5 million in debt funding from BlueOrchard, a leading impact investment firm. This partnership aims to support sustainable development and address global environmental challenges. The investment will enable Mufin Green Finance to advance its projects in the green and energy sectors, driving innovation and sustainable growth. The company has experienced significant growth and expects to reach an asset under management (AUM) of Rs 650-700 crore by the end of FY2024. Mufin Green Finance focuses on financing various elements of the electric vehicle ecosystem, including two- and three-wheelers, four-wheelers, fast chargers, and swappable batteries.
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Electric Vehicle financing firm Mufin Green raises $5 Mn
Entrackr
·
1y ago
Medial
Electric vehicle financing platform Mufin Green Finance has raised $5 million in a debt funding round led by BlueOrchard. Last month, Mufin raised Rs 140 crore (approximately $17 million) in a Series B round of equity funding, on top of Rs 530 crore raised in debt funding, last financial year. The funds will be utilised to propel its initiatives in the green and energy space, driving innovation, and facilitating sustainable development, Mufin said in a press release. Founded in 2016 by Kapil Garg, Mufin Green Finance provides financing options for EVs across two, three and four-wheelers. With a presence in 16 states across India, it has financed EVs worth over Rs 350 crore to date. Mufin claims to have recorded a 12-fold growth in just two years. The AUM for Mufin Green Finance stood at Rs 502 crore as of December 2023 and the company is expecting to close FY24 with an AUM of Rs 650-700 crore. In the electric vehicle financing space, Muffin competes with Revfin, Finayo, Vidyut, OTO, evfin, and Hero FinCorp, among others. Recently, Revfin raised $14 million in a Series B round led by Omidyar Network.
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Mufin Green secures $18M to scale EV loans for MSMEs
YourStory
·
2m ago
Medial
Mufin Green Finance, a listed NBFC, secured $18 million in debt funding from a US institution to expand its EV financing and leasing operations. The 10-year facility supports electric two-, three-, and four-wheelers, and related infrastructure, with a focus on MSMEs and underserved regions. Founder Kapil Garg highlights the importance of accessible financing as the EV market grows, especially in tier-2 and tier-3 cities. Dexter Capital advised on the transaction.
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Evera Cabs Bags $ 4 Mn From Mufin Green Finance
Inc42
·
1m ago
Medial
Evera Cabs, an electric vehicle ride-hailing startup, raised $4 million from Mufin Green Finance through convertible debentures and debt. Based in Delhi NCR, Evera focuses on providing airport-centric transport for corporates and individuals. The investment will aid in expanding their EV fleet, including acquiring 1,000 EVs from BluSmart. Founded in 2019 by Nimish Trivedi, Rajeev Tiwari, and Vikas Bansal, Evera commits to a zero-cancellation and surge-free fare service.
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Mufin Green Finance expects $40 mn cap boost from LKP Finance acquisition
VCCircle
·
1y ago
Medial
Electric vehicle financing company Mufin Green Finance is set to receive an additional $40 million in equity capital from its acquisition of LKP Finance Ltd. The New Delhi-based lender will acquire a 45.32% stake in LKP Finance, fortifying Mufin's equity capital base and supporting its growth. Mufin aims to offer a diverse range of financing solutions for individual consumers, fleet operators, and commercial entities in the green and sustainable finance sector. With its dedicated focus on EV financing, Mufin has already disbursed over $100 million in loans and anticipates further growth in the coming years.
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Mufin Green Finance raises $6.5M debt from DWM for EV and clean energy lending
YourStory
·
22d ago
Medial
Mufin Green Finance, an Indian non-bank lender, secured $6.5 million from Developing World Markets (DWM) through non-convertible debentures. This investment aims to boost Mufin's lending for electric vehicles (EVs), battery financing, and solar projects, especially in underserved markets. This marks DWM’s first venture into India’s e-mobility sector. Mufin, established in 2016, focuses on sustainable finance, enhancing clean energy access in low-income and semi-urban areas, with intentions to further scale operations.
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Ecofy Finance secures $12.5 mn from offshore investor
VCCircle
·
4m ago
Medial
Ecofy Finance, a non-banking financial company focused on green transition, has raised $12.5 million in debt capital from a development finance institution owned by the Danish government. The company, promoted by Eversource Capital, was co-founded by Rajashree Nambiar and Govind Sankaranarayanan, veterans in financial services. This investment marks a significant milestone for Ecofy Finance, highlighting its commitment to sustainable finance.
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Mobility startup Pumpumpum raises Rs 2 Cr led by IPV
Entrackr
·
1y ago
Medial
Fintech mobility startup Pumpumpum has raised Rs 2 crore in a new round led by Inflection Point Ventures (IPV). Previously, the startup had raised $2 million in equity from LC Nueva Investment Partners, Founders Room Capital, LetsVenture and others in June 2022. The proceeds will be used for growth in operations, geographical reach, technological advancements, marketing endeavors and overall organizational development. Founded in 2018 by Tarun lawadia and Sameer Kalra, PumPumPum works in B2B2C & B2C pre-owned car leasing model. It offers a subscription-based platform that prioritizes consumer convenience, flexibility, and affordability. Through the integration of technology and data analytics, the firm delivers an easy and personalized experience for accessibility and convenience. Earlier this month, IPV invested in edtech startup MyCaptain in its Rs 14 crore (approximately $1.7 million) new round. Its recent investments include BonV Aero, AllTrak, Onedioss, among others.
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MyCaptain Bags Funding To Onboard More Professional Courses
Inc42
·
1y ago
Medial
Edtech startup MyCaptain has raised INR 14 crores (around $1.6 million) in funding from investors such as Inflection Point Ventures and Ankur Capital. The platform offers courses in various fields, including content, design, visual arts, finance, and business. The funds will be used to expand into new cities, establish regional sales centers, and add more courses. MyCaptain aims to surpass 20,000 enrollments and generate INR 31 crores in revenue by FY24. This funding round comes at a challenging time for the Indian edtech space, which has seen decreasing investor interest due to the reopening of schools and colleges post-pandemic.
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Mufin Green Finance snags $17 mn in fresh equity round
VCCircle
·
1y ago
Medial
Mufin Green Finance, a non-banking financial player, has secured $17 million in a Series B funding round led by family offices. The funds will be used to support the company's growth target for 2024, with plans to expand operations in the western region of India. Mufin Green Finance aims to explore more product avenues in the electric vehicle ecosystem and expects to close FY24 with an AUM of Rs 650-700 crore. The company offers financing options for EVs and is focused on mobilising electric vehicles in India.
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