Mufin Green has obtained a $18 million, 10-year loan from the United States International Development Finance Corporation (DFC). The funds will be used to finance electric vehicles, charging infrastructure, and batteries, supporting the growth of the EV ecosystem in India.
Kapil Garg, Founder and CEO of Mufin Green, emphasized that this funding will enhance the company’s ability to provide financial solutions across the EV value chain. Mufin Green already supports a variety of EV-related products, including two-wheelers, three-wheelers, four-wheelers, fast chargers, and swappable batteries.
The company is also diversifying into solar financing to cover the entire solar value chain—OEMs, distributors, installers, and end-users—similar to its work in EV adoption. Garg stated that the goal is to create integrated financing solutions linking renewable energy and electric mobility, making them more accessible and affordable.
Founded in 2016, Mufin Green has facilitated EV deployments worth ₹6,000 crore across 16 Indian states. It is a forward-thinking financial institution dedicated to accelerating India’s transition to sustainable energy and eco-friendly transportation. As a leading player in green financing, the company focuses on supporting the adoption of electric vehicles (EVs) and renewable energy solutions through innovative and accessible financing options.
Mufin Green Finance plays a pivotal role in addressing climate change by empowering individuals and businesses to embrace environmentally sustainable practices. With a commitment to fostering a greener future, the company leverages advanced technology and customer-centric solutions to enable seamless financing for EVs and green energy projects, making sustainable choices more affordable and achievable for a broad spectrum of consumers.
