New Delhi, 28th February 2024: In a momentous stride aimed at extending financial support to EV buyers, Paisalo Digital Limited, a Systemically Important Non-Deposit Middle Layer NBFC registered with the Reserve Bank of India is thrilled to announce the successful completion of a substantial funding round, worth INR 200 Cr from Indian Renewable Energy Development Agency Limited (IREDA).

The Funds raised will be utilized to expand Paisalo Digital Limited’s portfolio of lending for the sector of E-mobility. The company strategically takes this step to empower consumers to make environmentally conscious choices while promoting cleaner models of transportation and reducing the carbon footprint.

Commenting on the alliance with IREDA, Mr. Santanu Agarwal, Deputy Managing Director, Paisalo Digital Limited shares, “At Paisalo, we are very conscious that accelerated growth in our businesses cannot come at the cost of a deteriorating environment. In line with our robust performance previously, we look forward to further strengthening our E-mobility portfolio by obtaining INR 200 Cr funding from IREDA. Resonating with IR EDA’s motto of ‘Energy for Ever’, the funds secured shall be utilized to elevate our competency in promptly meeting the
financing requirements for EV buyers.”

As an organization, we will continue to make efforts to collaborate with other stakeholders in the electric vehicle ecosystem to create a seamless and efficient financing process for consumers interested in making the switch to E-mobility.