Mufin Green Finance

Mufin Green Finance is a pioneering non-banking financial company (NBFC) dedicated exclusively to green and sustainable finance, with a primary focus on electric vehicle (EV) financing. Mufin Green Finance is recognized as India’s first listed pure-play EV financing company. The company operates across 26 states and over 150 cities, serving both urban and underserved rural markets and holds a significant 7–8% market share in its operating territories.

Core Products and Services

• EV Loans: Financing for electric two- three- and four-wheelers, including e-rickshaws, autos, and electric buses.

• Leasing Solutions: Operating and financial leases for fleet operators and MSMEs.

• EV Ecosystem Financing: Loans for EV charging infrastructure and swappable battery systems.

• Consulting and Advisory: Advisory services for clients transitioning to green mobility.

• Solar Financing (Emerging): Expansion into solar asset financing is underway.

Unique Value Proposition

• Enabling financial inclusion 84% of borrowers are first-time formal credit users, particularly in tier 2 and 3 cities and rural areas.

• Offering flexible, customized financing solutions for individuals, small businesses and fleet operators often overlooked by traditional banks.

• Supporting the entire EV ecosystem, not just vehicle purchase but also infrastructure and battery solutions.

• Backed by global impact investors (Incofin India Progress Fund, BlueOrchard, Symbiotics) and major Indian institutions (SBI, IREDA).

Business Model & Revenue Streams

Mufin Green Finance’s revenue model is built around providing financial products and services tailored to the green mobility sector:

• Interest Income on Loans: The primary revenue stream is interest earned on loans disbursed for EV purchases, charging infrastructure and battery systems.

• Leasing Fees: Income generated from operating and financial leases to fleet operators and MSMEs.

• Processing and Service Fees: Fees charged for loan processing, documentation and advisory services.

• Partnership Fees: Revenue from partnerships with EV manufacturers, dealers and infrastructure providers for promoting their products through financing solutions.

• Consulting and Advisory Fees: Income from providing consulting services to clients transitioning to green mobility.

• Investment Income: Returns from investing in sustainable projects and green bonds.

Customer Segmentation

• B2C: Individual drivers and small business owners, especially those new to formal credit and in remote locations.

• B2B: MSMEs, fleet operators and logistics companies seeking to electrify their fleets.

• Ecosystem Partners: EV manufacturers, dealers, charging station operators, and battery providers.

Growth Strategy

• Market Expansion: Aggressively growing in tier 2/3 cities and rural India, where financial inclusion and EV adoption are nascent.

• Product Diversification: Expanding from vehicle loans to infrastructure and solar financing to capture the full green ecosystem.

• Strategic Partnerships: Leveraging relationships with global impact investors and Indian financial institutions for capital and credibility.

• Technology and Risk Management: Investing in digital platforms and robust risk management to handle high-touch, cash-based segments efficiently.

• Financial Inclusion: Targeting first-time borrowers and MSMEs to drive both social impact and business growth.