Revfin acquires 15,000 vehicles from SUN Mobility to boost EV adoption • EVreporter

Revfin, an EV financing company in India, has acquired 15,000 vehicles valued at INR 100 Crore from SUN Mobility’s platform to boost electric vehicle adoption and fleet operations. The announcement was made by Revfin’s Founder & CEO, Sameer Aggarwal, and SUN Mobility’s CEO, Anant Badjatya, emphasizing their collaboration in advancing electric mobility.

Revfin offers loans through its NBFC using non-traditional data sources such as Biometrics, Psychometrics, and Gamification, along with IoT-enabled vehicle tracking to support sustainable mobility and financial inclusion. In contrast, SUN Mobility, a joint venture between SUN Group and Maini Group, provides battery swapping solutions with over 650 Swap Points™ in 20+ Indian cities, reportedly reducing CO2 emissions by around 48,000 metric tonnes since 2017, according to the official source.

This acquisition broadens Revfin’s operational reach and supports its strategy to expand its mobility business, with a focus on increasing EV adoption among fleet operators. The company engaged with fleet partners such as Shadowfax, Log9, Evera, and Shoffr, plans to strengthen its position in the Indian market. Over the past six months, Revfin has financed 65,000 vehicles across different categories, collaborating with over 100 OEMs and fleets, resulting in a total loan value of INR 900 crores.

Commenting on this, Sameer Aggarwal, Founder & CEO of Revfin, said, “This marks a crucial step in strengthening our presence in the EV fleet sector. The SUN Mobility portfolio aligns perfectly with Revfin’s strategy, allowing us to double our two-wheeler portfolio and significantly expand our last-mile mobility. This takeover reinforces our market dominance. We are excited to expand our operational reach and contribute to the rapid adoption of sustainable mobility solutions in India.” He further added, “Revfin is thrilled to be a driving force in this transformation, and we remain committed to making EVs accessible to all.”

Adding to the significance of this partnership, Anant Badjatya, CEO of SUN Mobility, stated, “At SUN Mobility, we are committed to enabling sustainable mobility through innovative energy solutions. Our partnership with Revfin represents a shared vision of accelerating the transition to electric vehicles in India. By integrating our portfolio with Revfin’s financing capabilities, we are confident that this collaboration will drive substantial growth in EV adoption in India.”

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