With a focus on last-mile climate finance, Ecofy is a Non-Banking Financial Company (NBFC) that has raised Rs 90 crore from FMO, the Dutch Entrepreneurial Development Bank.
Ecofy claims that the money will be utilized to increase its loan book, allow for product diversification, and improve its credit standing.
The two equal tranches of the strategic investment are separated. It is meant to support Ecofy’s pan-Indian expansion, encourage product diversification, and boost the company’s loan book growth. It also comes with a commitment to climate action.
Ecofy is a program that Eversource Capital promotes that works with people and small businesses to lower their carbon footprint. Ecofy provides working capital and loans for rooftop solar, small- to medium-sized businesses offering E2E digital experiences, and electric vehicles (two and three wheels).
Eversource says it has quickly developed and expanded platforms in the fields of resource conservation, e-mobility, energy storage, renewable energy, and related value chains.
