EV financing company, Revfin, has advanced its sustainable mobility strategy by taking over 15,000 vehicles, valued at ₹100 crore, operating on the SUN Mobility platform. The acquisition is expected to be completed by the end of this month, according to Sameer Aggarwal, Founder & CEO, Revfin.

With this, the financing company aims to broaden Revfin’s operational footprint, and expand its mobility business vertical, with a strategic focus on driving EV adoption among fleet operators.

“These 15,000 vehicles are currently operating on SUN Mobility’s platform, and are managed by various fleet operators to provide fleet services to different e-commerce platforms. Post acquisition, while the vehicles will still be operated by these fleet operators, they will shift from SUN Mobility’s records to Revfin’s records,” he explained to businessline.

Speaking to the media, Anant Badjatya, CEO of SUN Mobility, stated, “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.”

Expansion plans

“We have disbursed about ₹900 crore in loans so far. Over the next three years, we plan to increase this to ₹11,000 crore across India,” he said. Revfin plans to achieve this by entering new markets and expanding their presence in existing markets, aiming for a market share of 20-25 per cent in each segment.

He added, “This takeover aligns with our expansion strategy, allowing us to double our two-wheeler portfolio and significantly expand our last-mile mobility, and this takeover reinforces our market dominance.”

The company promotes financial inclusion in India by providing convenient and accessible financing solutions. In the past six months, it has financed 65,000 vehicles, totaling ₹900 crore in loans. Revfin’s current fleet partners include Shadowfax, Log9, Evera, and Shoffr.

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