Future-forward Financier: Sameer Aggarwal, Founder and CEO, Revfin Revfin's journey is not just about financing vehicles; it's about driving a sustainable future, one electric vehicle at a time
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Sameer Aggarwal, the founder and CEO of Revfin, is spearheading the digital transformation of India's electric vehicle (EV) market. In a landscape set to explode from over 1 lakh EVs monthly in the second half of FY23 to a projected USD 113.99 billion industry by 2029, Revfin stands at the forefront as a futureforward financier. Established in 2018, Revfin has already financed 35,000 electric vehicles, leveraging cutting-edge technology as the cornerstone of its operations.
Aggarwal emphasizes, "Our innovation has disrupted the sector, enabling us to underwrite a segment previously untouched." Leveraging AI/ML technologies, Revfin's digital lending platform offers diverse financing options, covering electric 2Ws, 3Ws, and EV ancillaries. From loans and leases to rent-toown and pure rentals, the company caters to a broad spectrum of customer needs.
Having secured Series A funding last year, Revfin has made significant strides. Aggarwal notes their contribution to the "2030 Net Zero Goal" and the UN Sustainable Development Goals, impacting areas such as poverty reduction, gender equality, clean energy, decent work, reduced inequalities, and climate action.
The company's commitment to societal impact is reflected in tangible results — 35,000 jobs created, economic empowerment for women (24% of customers), 775+ Million Green Kms and substantial reductions in CO2 emissions.
He emphasizes a holistic, ecosystem based approach to ensure vehicle roadworthiness and income generation opportunities for customers. Revfin operates a high growth business model while remaining profitable.
Looking ahead, Revfin aims to finance five million EVs in the next five years, with plans to quadruple its book size in two years. Aggarwal envisions expansive growth, covering 25 states, 1000+ cities, and partnering with over 70+ manufacturers and 1500+ dealers.
Revfin's journey is not just about financing vehicles; it's about driving a sustainable future, one electric vehicle at a time.
•Year of inception: 2018
•No. of employees: 290 (as on 31st October, 2023)
•Revenue for FY 2022-23 : 31.25 cr
•External funding received so far: Shell Foundation, USDFC, SIDBI, Green Frontier Capital, AU small finance bank, Shivalik Small Finance bank, Northern Arc Capital, Vivriti Capital, LC Nueva
•Any IP developed/patented –IP- Psychometric based underwriting methodology