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Tag: RevFin

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Revfin, Bluwheelz, and Kalyani Powertrain Collaborate for Electric Retrofitting of N3 Trucks in India

Jun 10, 2024 by Gayathri Pariti 0 Comments #Bharat Forge Ltd, #Bluwheelz, #Electric Retrofitting of N3 Trucks in India, #India’s pioneering digital lending platform, #Kalyani Powertrain, #Kalyani Powertrain Ltd, #Mr. Sameer Aggarwal, #Mumbai, #RevFin

Mumbai, June 10, 2024: Revfin, India’s pioneering digital lending platform championing sustainable mobility, announces its collaboration with Kalyani Powertrain Ltd (KPTL), the electric mobility arm of Bharat Forge Ltd, and Bluwheelz, a provider of sustainable logistical solutions, to introduce retrofitted electric trucks to the Indian logistics sector. It has designed innovative financial products to support the 100% conversion of truck fleets over the next five years, with assistance from government schemes and partnerships with OEMs and fleet operators. This initiative aligns with Revfin’s mission to revolutionize the EV ecosystem and promote sustainable transportation.

Revfin teams up with Bluwheelz and Kalyani Powertrain to Electrically Retrofit N3 Category Trucks

In a first of its kind, KPTL has successfully homologated retrofitted electric trucks in the 10-16T GVW category for the N3 Goods Carrier segment. These trucks are designed to sustainably serve various sectors, including FMCG, e-commerce, cement, steel, and perishable goods, thereby enhancing the availability of ‘Made in India’ solutions for the global automotive market.

Retrofitting of EVs is crucial in the evolution of urban transport, significantly contributing to sustainable and smart cities. As global efforts to combat climate change and reduce vehicular emissions intensify, retrofitting offers a practical step towards a fully electric future as it helps extend the lifespan of old vehicles by up to 5 to 7 years and helps them in avoiding scrappage as endowed by regulations.

However, faster acceleration and adoption of retrofitted EVs and EVs in general will only be possible if cheaper financing is available from various financial and climate-focused institutions within India and worldwide. Additionally, supporting schemes and incentives for earning carbon credits can significantly reduce the cost of financing, facilitating broader EV adoption.

Mr. Sameer Aggarwal, CEO and Founder, Revfin, said “We are dedicated to revolutionizing sustainable mobility and strengthening the EV ecosystem. Retrofitting is key to achieving decarbonization and net-zero goals worldwide, making EV adoption more accessible while fostering a greener future. It extends vehicle lifespan, integrates recycling principles, and reduces operating costs. By financing retrofitted vehicles, Revfin supports broader sustainability goals. However, we advocate for regulations that simplify retrofitting processes and extend the vehicle registration period beyond 15 years. Deep research on battery life extension will also help this sector. The scope of retrofitting isn’t limited to fleets but extends to school buses, chartered buses, travel, tourism, and beyond.”

“This marks the launch of India’s first medium-duty retrofitted electric trucks for the mid-mile logistics segment in India. These trucks are capable of carrying a payload ranging between 7-10T and are designed to operate on intercity routes. We are deploying these trucks to serve a wide clientele base across various sectors to ensure fulfilling their green and clean mobility goals. We appreciate both Revfin and KPTL for their invaluable support in making this journey possible towards achieving sustainability in the logistics sector,” said CP Sethi, CEO and Co-founder, Bluwheelz.

“KPTL is dedicated to developing sustainable transportation infrastructure. The company is committed to innovation and sustainability in addressing the needs of heavy electric vehicles in India. By introducing ground-breaking EV products and promoting retrofitted vehicles, we aim to make these vehicles the preferred choice for customers as these trucks can result in a 24% reduction in the Total Cost of Ownership (TCO) as compared to new electric models,” said Amit Kalyani, the Vice-Chairman & Joint Managing Director, Bharat Forge Ltd.

While transitioning from internal combustion engine-powered vehicles to electric currently presents challenges, a coordinated effort involving government initiatives, industry collaboration, and public engagement can help overcome these hurdles. Together, they can pave the way for a sustainable future and lead the charge towards a cleaner, greener world.

business

5 Fintech Startups to Watch in the Auto Finance Sector

May 28, 2024 by Gayathri Pariti 0 Comments #5 Fintech Startups, #Auto Finance Sector, #AutoTech company, #fintech platform, #MLR Auto SKS, #NBFC’s, #OEM’s, #RevFin, #Rupyy, #Rupyy platform, #Spinny car, #Transformation

India’s auto finance sector is experiencing a remarkable transformation driven by the innovative solutions of fintech startups. These companies are utilizing advanced technology to streamline and improve the auto financing process, making it more accessible, efficient, and user-friendly. They offer a streamlined application process, competitive interest rates, and the convenience of comparing loan options from multiple lenders. With numerous options available, it can be challenging to determine the best auto finance platform for your needs.

So, as we shed light on the top five prominent fintech startups, we hope this will help you decide on your pick.

  1. Rupyy – Rupyy stands proudly as a frontrunner among India’s leading Lending FinTech platforms, specifically excelling in the domain of vehicle financing. Incubated in 2016 within the nurturing confines of the CarDekho Group, Rupyy has successfully orchestrated a remarkable metamorphosis in the landscape of auto loans, customer experience, vehicle retail, and other lending institutions. Through its ahead-of-time tech stack, deep partnership with 37+ esteemed banks and NBFCs, and an array of unparalleled innovations throughout the value chain, Rupyy has delivered entirely novel financial experiences. Rupyy platform now covers over 1,500+ cities and towns through a network of 14,000+ distributors.
  2. Kuwy – Kuwy is an Automotive Fintech Platform that powers automated lending (direct & indirect) to grow loan originations and digital retailing. It verifies and connects consumers & vehicles to dealers, lenders, OEM’s and consumer-facing platforms through strategic industry partnerships & proprietary products to provide consumers with the best loans and vehicles through an automated process. Headquartered in Chennai, India, Kuwy has a reach across 70+ locations in India.
  3. Revfin: Revfin is a leading digital consumer lending platform that aims to improve financial inclusion in India. Through its advanced technology and non-traditional data analysis, Revfin offers convenient and accessible loan options to individuals – using three key techniques – Biometrics, Psychometrics and Gamification. Recently, Revfin has expanded its services to the 4W EV segment by partnering with Zappit for airport pick-up services.
  4. Revfin has also broadened its financing options by partnering with Best Way, MLR Auto SKS Trading (Aarzoo), Energy Electric Vehicles (Udaan), and Sun Mobility, a battery-swapping company that caters to Piaggio EV. Revfin Mobility, which includes 4-Wheeler, 2-Wheeler, and 3-Wheeler Cargo through Fleet Aggregator partnerships, has also entered the electric vehicle leasing business, creating a micro secondary market for EVs.
  5. Spinny – Spinny is the most trusted way of buying and selling used cars. Choose from over 5000 fully inspected second-hand car models. Select online and book a test drive at your home or at a Spinny Car Hub near you. Get a no-questions-asked 5-day money-back guarantee and a free one-year comprehensive service warranty with Assured Resale Value on every Spinny car.
  6. Cars24 – Founded in 2015, CARS24 is a leading AutoTech company streamlining and revolutionizing the sale, purchase, and financing of pre-owned cars in India, Australia, Thailand, and UAE. Leveraging a Smart AI Pricing Engine and 140 quality checks, selling and buying pre-owned vehicles is seamless and transparent with CARS24. Ensuring complete transparency and faster lending processes, CARS24 Financial Services Private Limited, a professionally managed Non-Banking Financial Company (NBFC) registered with the Reserve Bank of India, offers customers focused value-added services.
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RevFin recognized as the “Best Place to Work” for the fourth consecutive year

Apr 17, 2024 by Sujata 0 Comments #Best Place to Work, #Delhi, #RevFin, #Sameer Aggarwal

April 17, 2024, Delhi: RevFin, India’s pioneering digital lending platform championing sustainable mobility, is proud to announce its fourth consecutive recognition as the “Best Place to Work.” This achievement underscores the company’s firm commitment to maintaining an exceptional workplace culture where employees thrive and contribute to the organization’s remarkable success.

Led by visionary CEO Sameer Aggarwal, RevFin has cultivated a dynamic, diverse, and supportive work environment. RevFin’s workforce comprises a remarkable mix of talent, including over 25 best-in-class software engineers driving its digital journey, alongside accomplished automobile engineers managing RevShala, RevFin’s groundbreaking initiative focused on extending the second life of vehicles. The company’s workforce of over 400 dedicated employees is instrumental to its commitment to diversity and inclusion, with a leadership team comprising 60% women, demonstrating a steadfast commitment to gender equality and providing opportunities for professional growth.

Sharing his views on the achievement, Sameer Aggarwal, CEO of RevFin, said, “Receiving the ‘Best Place to Work’ recognition for the fourth consecutive year is a tremendous honor that speaks volumes about the exceptional dedication and passion of our team. At RevFin, we are deeply committed to nurturing a work environment that empowers and inspires every employee. We prioritize creating a culture where everyone feels valued, supported, and encouraged to innovate. This latest accolade reaffirms our relentless efforts to cultivate an inclusive workplace that provides meaningful opportunities for personal and professional growth. By nurturing our employees’ wellbeing and professional development, we have not just solidified our position as an employer of choice but also fueled the remarkable achievements that have propelled RevFin forward as a pioneer in the industry.”

RevFin’s employee-centric initiatives significantly contribute to its success. The company’s robust reward and recognition program has resulted in over 22% of employees receiving promotions annually. Additionally, RevFin offers above-market compensation packages, and strong retention plans, and has remarkably low attrition rates with hardly any regrettable departures. It showcases the company’s constant dedication to employee well-being and professional development.

This latest recognition, with an impressive 92% of positive employee responses, surpassing the average scores of other top mid-size workplaces in India’s top 100, further solidifies RevFin’s position as an employer of choice within the industry.