EV Finance company Perpetuity Capital has raised INR 5 Cr. in debt from Clime Finance. Headquartered in Kolkata, India, Perpetuity Capital provides easy financing options for electric vehicles.
The raised debt will finance two and three-wheeler electric vehicles in the areas the company has recently targeted in the last few months. The company has raised the debt from Clime Finance, an RBI-registered NBFC that provides debts to small and medium-sized businesses focused on climate-related goals.
With the growing adoption of electric vehicles, the demand for easy financing options is also growing. The company has started expanding in states like Bihar to help people purchase electric vehicles. Along with that, the company is looking forward to expanding its services in tier 2 cities with increasing demand for both two and three-wheeler electric vehicles.
As per their official website:
- Perpetuity Capital provides flexible loans ranging from 50,000 to 10 lakhs.
- They process and disburse loans within 72 hours
- The credit has an ROI ranging from 9.5% to 14%
Last year in December, Perpetuity Capital raised an undisclosed amount from UC Inclusive Credit.