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Mufin Green Finance Secures $5 Million to Power Sustainable Growth

Mufin Green Finance, a champion for eco-friendly progress, has secured $5 million in debt funding from BlueOrchard, a leading impact investor. This collaboration signifies a shared mission to tackle environmental challenges and foster positive change.


This new investment follows Mufin Green Finance's successful Series B funding round of Rs 140 crore in February 2024, led by family offices. Additionally, the company has secured debt funding from prominent financial institutions like the State Bank of India and ICICI Bank.


The latest funding from BlueOrchard will empower Mufin Green Finance to further advance its projects in the eco-friendly and energy sectors. By leveraging BlueOrchard's extensive network and expertise, Mufin aims to spearhead transformative projects that lessen environmental damage while stimulating economic prosperity.


Kapil Garg, Mufin Green Finance's Managing Director, emphasized the company's alignment with BlueOrchard's vision for driving sustainable change and creating a positive global impact on the environment. He highlighted the collaboration's potential to unlock new opportunities and drive innovation in the green and energy space.


"This significant investment underscores our shared commitment to drive sustainable change and underscores our resolve to catalyze positive environmental impact globally," said Mr. Garg. "Together with BlueOrchard, we are poised to unlock new opportunities and drive innovation in the Green and Energy space."


Mufin Green Finance has witnessed impressive growth, recording a 12-fold increase in assets under management (AUM) within the past two years. As of December 2023, their AUM stood at Rs 502 crore, and they project closing FY2024 with an AUM of Rs 650-700 crore.


Currently operating in 16 Indian states, Mufin Green Finance offers financing solutions for electric vehicles (EVs) across two, three, and four-wheeled options. They are committed to financing every aspect of the EV ecosystem, including vehicles, fast chargers, swappable batteries, and other related products, aiming to facilitate the widespread adoption of EVs for both individual and fleet operators.


Mufin Green Finance remains dedicated to promoting sustainable development and environmental responsibility through innovative financial solutions and strategic partnerships. As a subsidiary of Hindon Mercantile Limited and with the backing of Incofin India Progress Fund, a Belgian impact investor, Mufin Green Finance is well-positioned to contribute significantly to a greener future.


 

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