Perpetuity Capital raises 7.5 crore in a combination of equity and debt • EVreporter

Perpetuity Capital, a finance platform focused on clean-tech mobility, has raised ₹7.5 crore through a combination of equity and debt. The funding round included contributions from investors such as Inderpreet Wadhwa (Founder & Former Chairman of Azure Power Global Limited), Sudhir Kothari (CEO of Embee Software), Transaction Square LLP, the founders, and family offices including Silver Pearl Limited, Baid Holdings, Clime Finance, and Wint Capital. VERTICES PARTNERS provided legal counsel for the transaction.

Perpetuity Capital, a Non-Banking Financial Company (NBFC), provides financing solutions for single owner-drivers, fleet operators, and gig economy workers to acquire 2- and 3-wheeler electric vehicles. The new funding will increase the company’s lending capacity and facilitate its expansion into Tier II and Tier III towns across India, supporting the growth of electric mobility in the country.

The company uses non-traditional data points to assess credit for customers who often lack access to financing through formal banking channels. Perpetuity Capital has financed over 2,000 electric vehicle assets to date, reporting a Gross Non-Performing Asset (GNPA) ratio of 1.8%.

“We are thrilled to welcome such a distinguished group of investors into the Perpetuity family,” said Karamveer Dhillon, Founder and CEO of Perpetuity Capital. “This funding is not just a testament to our vision but also a significant milestone in our journey toward building a sustainable and inclusive future. The funds will be instrumental in scaling our operations, refining our technology, and reaching more underserved customers across India.”

The transport sector contributes 15% of India’s carbon emissions, and Perpetuity Capital addresses this by financing electric vehicles in collaboration with over 40 EV Original Equipment Manufacturers (OEMs).

Also read: Perpetuity Capital raises INR 7 crore to enhance clean-tech mobility lending