After expanding into new regions during the past six months, Perpetuity Capital intends to use the debt to finance three- and two-wheeler electric vehicles.
Clime Finance has provided EV Finance Digital Platform, Perpetuity Capital with debt worth five crore. After expanding into new regions during the past six months, Perpetuity Capital intends to use the debt to finance three- and two-wheeler electric vehicles.
An online platform called Perpetuity Capital assists drivers of autorickshaws and delivery services in obtaining financing for the purchase of electric vehicles (EVs) intended for business use.
In our opinion, our business can make a significant and long-lasting contribution to society by financing India’s delivery and autorickshaw drivers who have little credit history. Furthermore, over the course of the vehicle’s lifetime, we reduce 9–10 tonnes of carbon emissions for every three-wheeler EV that Perpetuity Capital finances,” said Karamveer Dhillon, the company’s founder and CEO.
Perpetuity Capital has opened branches in Gaya and Muzaffarpur, Bihar, as part of its recent expansion efforts. The business has also expanded into Tier II cities in Karnataka with the goal of promoting electric three-wheelers in rural India.
“I am delighted to support the scale-up of Perpetuity Capital with this debt financing, through which we envision inclusive growth for individuals supporting sustainable jobs, deliveries, and transportation across several underserved markets,” stated Inderpreet Wadhwa, Founder and CEO of Clime Finance.