Finayo, a Delhi NCR, India-based B2B SaaS startup, secured INR 16 crore (approximately $1.9 million) in a funding round that includes both debt and equity.   

SaaS Investors 

The funding comes from non-banking financial company F Mec International Financial Services Limited, Choice Finserv Private Limited, India Accelerator, and angel investor Manish Mehta.  

Finayo Use of Funds 

The company will use the newly raised funds to advance its goal of creating a financially inclusive EV landscape and supporting India's net zero agenda.   

About Finayo 

Founded in 2020 by Brajendra Singh Tomar and Yogesh Prakash, Finayo operates an AI-powered platform that connects lending partners with customers of electric vehicle (EV) retailers and original equipment manufacturers (OEMs). The platform facilitates quick credit decisions and aims to digitize the entire process of EV lending portfolios, including vehicle loans, EV charging infrastructure loans, and loans for EV retailers.   

Funding Details 

Company: Kilpi Technology and Services Pvt. Ltd.  

Raised: INR 16 Crore                              

Round: Unknown     

Funding Month: December 2023                                                                  

Investors: F Mec International Financial Services Limited, Choice Finserv Private Limited, India Accelerator, and Manish Mehta  

Company Website: https://finayo.tech/   

Software Category: Financial 

Source: https://inc42.com/buzz/finayo-bags-funding-to-digitise-ev-financing-through-its-saas-offering/