Mufin Green Finance partners with Roadcast to transf

sixteenth May 2024, New Delhi: Roadcast, one of many main SaaS-based logistics automation platforms in India, proclaims a groundbreaking partnership with Mufin Green Finance, India’s first listed NBFC, with a dedicated deal with electrical car (EV) financing.

In this collaboration, Mufin Green Finance will lease out 3WEVs which can be GPS-enabled by Roadcast.

This strategic collaboration goals to revolutionize the electrical car (EV) market in India by integrating superior IoT techniques into the 3WEVs leased by Mufin Green Finance.

With Roadcast’s expertise built-in into the 3WEVs, Mufin can be in a position to achieve distant entry over the automobiles. This implies that they will intently monitor their utilization patterns. By analyzing this information, Mufin can determine automobiles which might be underutilized, which might probably lead to lease defaults.

The adoption of Roadcast’s GPS system can be a game-changer, significantly within the context of quicker fund deployment in Non-Banking Financial Companies (NBFCs). In NBFCs, making certain the well timed restoration of funds is essential, particularly in lease agreements. This predictive perception will enable them to take proactive measures to mitigate dangers earlier than they escalate.

“We are a tech-first firm, and with the growing adoption of electrical automobiles, we would like to be on the forefront of this inexperienced revolution as properly. By partnering with Mufin, we’ve got elevated public entry to high-tech, linked EVs. Each 3WEV leased by Mufin can be outfitted with Roadcast’s IoT expertise and can assist them mitigate dangers,” shares Vishal Jain, co-founder at Roadcast.

This partnership is especially important for financiers who’re scaling up quickly within the EV leasing sector. These corporations are making substantial investments to enhance EV accessibility to the general public and make leasing EV automobiles simple. However, in addition they want to handle their dangers successfully. Roadcast’s superior expertise will enable financiers to predict and determine non-performing property and riders who could default on funds. The analytics capabilities will even present insights into the efficiency of authentic gear producers (OEMs), serving to financiers make knowledgeable selections.

“With the assistance of Roadcast’s platform we are going to now have the ability to determine automobiles susceptible to default early on. So, we are able to intervene successfully, whether or not by means of renegotiating phrases or reallocating assets. This won’t solely decrease potential losses but in addition streamline our fund deployment course of. These insights and this type of entry will assist our decision-making and we are able to quickly scale our operations and deployment figuring out that we’ve got the instruments to handle dangers successfully and optimize useful resource allocation. Roadcast’s expertise will helps us navigate the complexities of NBFC operations extra effectively,” shares Kapil Garg, Co-Founder and MD at Mufin Green Finance.

This strategic partnership with Mufin Green Finance goals to make electrical car leasing extra environment friendly, linked, and financially viable for all stakeholders concerned.