With the help of N+1 Capital and RevX Capital, Perpetuity Capital, a fintech platform that specializes in clean-tech mobility, has raised Rs 7 crore through Non-Convertible Debentures (NCDs).
With an emphasis on East India, Perpetuity Capital intends to use these funds to improve its lending capabilities and grow its loan book. The purpose of this calculated action is to encourage these states to implement eco-friendly transportation options.
Perpetuity Capital, led by Karamveer Dhillon, assists drivers of autorickshaws and delivery drivers in obtaining financing for the purchase of electric vehicles intended for business use.
Perpetuity Capital obtained debt totalling Rs 5 crore from Clime Finance in October 2023.
Perpetuity Capital faces competition from a number of companies in the electric vehicle financing market, including Vidyut, Revfin, Finayo, Mufin Green Finance, OTO, evfin, and Hero FinCorp. While Vidyut raised $10 million in February of this year, Revfin raised $14 million in a Series B round led by Omidyar Network in December.
