Mufin Bets on Profitable Growth as EV and solar financing continue to gain momentum, with the company’s Assets Under Management (AUM) in the two sectors reaching nearly ₹460 crore. The non-banking financial company (NBFC), focused on green asset financing, has emerged as a key player in supporting India’s transition toward sustainable mobility and renewable energy.
The company reported that its combined EV and solar financing portfolio has crossed ₹459 crore, including a strong ₹166 crore retail lending portfolio, highlighting increasing demand for affordable financing solutions in the clean energy ecosystem.
Profitability Surges Amid Rapid Expansion
A major highlight of the company’s recent performance is its impressive profitability growth. Mufin recorded an approximately 185% year-on-year increase in quarterly net profit, reaching ₹11.1 crore. During the same period, revenue rose by 59% to ₹63.9 crore, reflecting the company’s ability to balance expansion with sustainable financial performance.
The strong financial results reinforce the company’s strategy of focusing on profitable and scalable growth while maintaining operational efficiency and asset quality.
Significant Funding Strengthens Expansion Plans
To support future growth, Mufin has secured substantial financial backing from domestic and international investors. The company successfully raised ₹140 crore through a Series B equity funding round and secured more than ₹530 crore in debt financing.
Additionally, global impact investors, including BlueOrchard and Symbiotics Investments, have contributed funding, strengthening confidence in the company’s long-term green financing strategy.
Expanding Beyond EVs into Solar Financing
While electric vehicle financing remains a core business segment, Mufin Bets on Profitable Growth as EV financing expands alongside a rapidly growing solar business. The company is actively financing solar installers, leasing models, and supply chain operations, with ambitious plans to support ₹500 crore worth of solar projects in the coming years.
Empowering First-Time Borrowers and Underserved Segments
One of the company’s most notable achievements is its inclusive lending model. Nearly 84% of its EV borrowers lack formal credit histories, including gig workers, small fleet operators, and first-time EV buyers. Through technology-driven assessments and zero-collateral loan approvals, Mufin is helping underserved communities gain access to clean mobility solutions.
Outlook: Sustainable Growth Remains the Priority
As demand for electric vehicles and renewable energy continues to rise across India, Mufin Bets on Profitable Growth as EV adoption accelerates nationwide. The company plans to strengthen its market position through disciplined lending, digital operations, and customer-focused financing solutions.
With green financing becoming a major growth engine, Mufin Bets on Profitable Growth as EV and solar lending continue to support India’s clean energy transition while delivering strong business performance.
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