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Solar financing platform Metafin secures $10 Mn debt from Lendable

Entrackr

Entrackr · 8d ago

Solar financing platform Metafin secures $10 Mn debt from Lendable

Metafin, a solar financing platform focused on rural MSMEs and households, has secured a $10 million structured debt facility from Lendable. The capital will be used to expand financing for solar energy solutions across rural India, particularly for small businesses and households transitioning from diesel-based systems. The facility has been extended through Lendable’s Transportation and Energy Fund and will support financing for productive-use solar systems for MSMEs and enterprises in underserved regions. Founded by Sandeep Chopra and Aditya Shah, Metafin operates a solar financing model integrated with a network of over 1,000 local installers and a servicing arm for deployment and maintenance. The company claims to have financed over 6,500 solar projects across more than 4,000 villages in five states. These projects have helped offset over 30 million kilograms of CO₂ emissions and displaced around 11 million litres of diesel. Metafin is backed by investors including Vertex Ventures SEAI, Prime Venture Partners, and Varanium Capital, and works with financial institutions such as SBI, Northern Arc, and AU Small Finance Bank.

Related News

Metafin, Scandalous Foods, EZStays, ekincare secure early-stage funding

VCCircle

VCCircle · 11m ago

Metafin, Scandalous Foods, EZStays, ekincare secure early-stage funding

Early-stage companies Metafin, Scandalous Foods, EZStays, and ekincare have secured funding in recent rounds. Metafin, a solar financing platform, raised $10 million to expand its market presence and infrastructure. Scandalous Foods, offering preservative-free sweets, garnered Rs 2 crore to boost production and distribution. EZStays, a student housing startup, received Rs 8.5 crore to increase its accommodation inventory. Meanwhile, digital health platform ekincare raised funds to expand its AI-driven healthcare solutions.

Solar-focussed NBFC Metafin raises $10 million in round led by Vertex Ventures SEA & India

Economic Times

Economic Times · 11m ago

Solar-focussed NBFC Metafin raises $10 million in round led by Vertex Ventures SEA & India

Metafin, a non-banking finance company specializing in solar loans, raised $10 million in equity and debt, led by Vertex Ventures SEA and India, with participation from Prime Venture Partners and others. Founded in 2019, Metafin supports small businesses and households in rural and semi-urban areas, focusing initially on Uttar Pradesh and Bihar. The funds will aid expansion into states like Jharkhand and Odisha, enhancing technology and service infrastructure. Metafin aims for 10,000 installations across 8,000 villages.

Metafin secures $5 million funding from Prime Venture Partners, others

Economic Times

Economic Times · 2y ago

Metafin secures $5 million funding from Prime Venture Partners, others

Clean tech focused NBFC Metafin has raised $5 million in an equity funding round led by Prime Venture Partners and Varanium Capital. The funding will be used to expand across states, improve the loan book, enhance technology and IoT stack, and hire new talent. Metafin specializes in providing rooftop solar loans to small businesses in rural and semi urban areas and aims to address the market gap of providing affordable power solutions to over 5 million rural businesses. The company has raised about $7 million in total funding and aims to reach $12-15 million AUM in the next 12 months.

Northern Arc Gets $65 Mn Debt Commitment For Maiden Climate Fund

Inc42 · 1y ago

Northern Arc Gets $65 Mn Debt Commitment For Maiden Climate Fund

Northern Arc, a financial institution based in GIFT City, has secured $65 million in debt commitments. The funds come from the US DFC, contributing $50 million, and Austria's OeEB, contributing $15 million. The climate fund will primarily focus on providing debt financing for solar energy, green buildings, and sustainable agriculture companies. This announcement follows Northern Arc's recent launch of a ₹1,500 crore (approximately $202 million) AIF with a ₹500 crore green shoe option.

Mufin Green secures $18M to scale EV loans for MSMEs

YourStory

YourStory · 10m ago

Mufin Green secures $18M to scale EV loans for MSMEs

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.

ACME Solar secures Rs 4,725 cr financing for renewable projects

Economic Times

Economic Times · 3m ago

ACME Solar secures Rs 4,725 cr financing for renewable projects

ACME Solar Holdings has secured Rs 4,725 crore in financing from Indian financial institutions to support renewable energy projects and optimize its capital structure by reducing financing costs. This funding includes arrangements ranging from 18 to 20 years for its projects. The company also finalized its first greenfield project financing and expanded non-fund based limits with banks. ACME has secured Rs 10,590 crore in greenfield financing this financial year and refinanced Rs 3,380 crore to lower interest costs.

Recur Club Raises $50 Mn To Expand Its Debt Marketplace

Inc42 · 6m ago

Recur Club Raises $50 Mn To Expand Its Debt Marketplace

Recur Club, a fintech-focused debt marketplace, secured $50 million in funding to expand its AI-driven debt financing platform targeting startups and SMEs. The funding includes $8 million in equity from InfoEdge Ventures and others, while $42 million comprises debt from entities like Incred and Ugro. The raised capital will aid in enhancing its AI credit engine, expanding into tier II and III cities, introducing new products, and scaling its team.

Two Point O Capital raises $6.3 Mn in seed round

Entrackr

Entrackr · 1y ago

Two Point O Capital raises $6.3 Mn in seed round

Climate financing platform Two Point O Capital has raised $6.3 million in its seed round led by Omnivore, with participation from Multiply Ventures, RTP Global, GrowX, Spectrum Impact, and a group of marquee angels. The proceeds will be used to improve its tech-enabled platform for sourcing, financing, and monitoring distributed projects in clean energy sectors, and to hire a top-tier team. Founded in 2024 by Archit Mehrotra, Karan Bhutani, Manya Ranjan, and Shashidhar Reddy, Two Point O Capital offers flexible financing solutions for distributed clean energy projects in the commercial and industrial sectors. The Gurugram-based startup focuses on solar rooftops, energy efficiency, and wastewater treatment, offering leasing and capex financing options. It also plans to collaborate with various operating and financial partners to develop and manage a high-quality portfolio on a platform.

ADB extends $18 mn debt to Cygnus Medicare for north India expansion

VCCircle

VCCircle · 2y ago

ADB extends $18 mn debt to Cygnus Medicare for north India expansion

The Asian Development Bank (ADB) has provided $18.1 million in debt financing to Cygnus Medicare Pvt. Ltd for expanding healthcare services in northern India. The agreement includes the establishment of up to six new hospitals in tier-II and tier-III cities, as well as the strengthening of existing facilities. Additionally, the financing will support Cygnus in installing rooftop solar power systems at its hospitals. ADB aims to address the geographic inequity in healthcare distribution in India and improve access to quality healthcare in underserved areas.

Rooftop solar focused NBFC Dugar Finance raises $3 Mn in debt

Entrackr

Entrackr · 9m ago

Rooftop solar focused NBFC Dugar Finance raises $3 Mn in debt

Non-banking financial company (NBFC) Dugar Finance has raised $3 million in debt from the $75-million Green Basket Bond issued by Swiss based impact investment firm Symbiotics Investments. The bond was issued by Symbiotics Investments and subscribed to by British International Investment (BII), the UK’s development finance institution and impact investor, aiming to drive the adoption of renewable energy solutions across Asia and Africa. The proceeds will be utilized to expand its presence in the EV financing and rooftop solar financing space, primarily targeting residential as well as MSME customers, including housing societies, in tier-II and tier-III cities, Dugar Finance said in a press release. According to Dugar Finance, it provides income-generating vehicle loans tailored for self-employed individuals and gig economy workers, helping create livelihoods and foster upward mobility. Beyond traditional vehicle and mortgage loans, it actively promotes green and inclusive financing through electric vehicle (EV) loans, rooftop solar financing, and credit solutions for micro, small, and medium enterprises (MSMEs). Since its inception, Dugar Finance states that it has made significant strides in promoting EV/renewable energy solutions. Until now, the company has helped over 1,200 customers adopt rooftop solar solutions and help purchase EV vehicles. With over 30 branches across 6 states, Dugar Finance claims to have served more than 25,000 customers since its inception, focusing on underserved and credit-invisible segments.

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