Metafin Raised USD 10 Mn in a Series A Round Led by Vertex Ventures With the latest round of funding, it aims to enter Jharkhand, Chhattisgarh, Odisha, and Madhya Pradesh
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Metafin, a non-banking finance company (NBFC) focused on solar loans, has raised USD 10 million (approximately INR 83 crore) in a Series A funding round comprising both equity and debt. The round was led by Vertex Ventures Southeast Asia and India, with continued backing from existing investors Prime Venture Partners and Varanium Capital. Financial institutions such as Northern Arc and AU Small Finance Bank also participated. The fresh capital will be deployed to strengthen Metafin's technology, credit, and service infrastructure, while expanding its reach into new states.
Founded in 2019 by Sandeep Chopra and Aditya Shah, Metafin provides solar financing solutions to small businesses and households in rural and semi-urban India through a network of lending and installation partners. The company relies on real-time energy data to enable scalable financing and currently operates primarily in Uttar Pradesh and Bihar.
With the latest round of funding, it aims to enter Jharkhand, Chhattisgarh, Odisha, and Madhya Pradesh. "Today, we have financed over 3,200 installations in 2,700 villages. The ambition now is to scale it up to about 10,000 installations and 8,000 villages across the states in which we are operating… This is largely carrying on to our strategy and theme around energy access in rural India," shared Sandeep Chopra, co-founder of Metafin.
As of March 2025, the company reported an annual revenue run rate of INR 22 crore and assets under management (AUM) totalling INR 81 crore. It is also in discussions with banks and other financial partners to widen its lending offerings to its target segment. This follows an earlier USD 5 million (around INR 41 crore) equity raise in February 2024 from Prime Venture Partners and Varanium Capital.
"Metafin's technology-driven approach, along with their grassroots understanding of rural entrepreneurs and deep knowledge of credit underwriting, positions them as category leaders in the solar asset financing space," said Nikhil Marwaha, Senior Executive Director at Vertex Ventures Southeast Asia and India.
