Perpetuity Capital is a fintech startup that offers an online loan lending platform for electric vehicles.  The startup secured Rs 7 crore through Non-convertible Debentures from RevX Capita and N+1 capital.  The company plans to use these fresh proceedsto scale its operations, enhance its lending capabilities,  and expand its network and loan book. This non-banking finance company enables asset ownership  for entrepreneurs. 

The fintech startup plans to expand its network in the regions of East India. The company aims to  promote the adoption of environment-friendly electric vehicle solutions across India. The firm was  founded by Karamveer Dhillon. The company helps delivery drivers and autorickshaw drivers to lend  money and purchase electric vehicles for commercial purposes. The company previously secured Rs 5  crore in a debt funding round led by Clime Finance in 2023. The recent funding round also saw the  participation of various new and existing investors of the startup. The CEO of Perpetuity Capital,  Karamveer Dhillon mentioned that this funding will enable the startup to provide more financial  solutions and help the firm to achieve a clean mobility mission to create a sustainable future. 

The company offers various lending solutions to its customers for electric vehicles. The firm provides  its services through an online website and a mobile application. The digital platform connects the  customers to banks and other NBFCs to provide loaning facilities. The company provides loans ranging  from Rs 50,000 to Rs 10 lakh according to the requirements of customers. The process of lending a  loan, approving and disbursing it takes less than 72 hours. The investment shows the trust of investors  in Perpetuity Capital’s market potential and business model. 

The startup will use this funding to scale its operations, improve its platform, and enhance its  technology. The EV fintech startup faces competition from other companies such as RevFin, Vidyut,  OTO, Revfin, Hero FinCorp, Finayo, and Mufin Green Finance. The amount raised from these Non  Convertible Debentures will be used to develop more efficient EV finance solutions with technological  advancement and increased performance. The company will mainly focus on the states of the eastern  region including Jharkhand and Bihar for its expansion. 

Conclusion: 

Perpetuity Capital is a fintech startup that secured Rs 7 crore from RevX capital and N+1 Capital through  its Non-Convertible Debentures. The startup intends to use this fresh capital to scale its production,  enhace its platform, expand its services in the eastern region, and enhance its lending capabilities. The  startup offers loans for electric vehicles and aims to promote environment-friendly EV solutions across  India. The director of investment of RevX Capital, Sushant Bhatia mentioned that they believe in the  startup’s vision. This collaboration aims to adopt clean technologies in Bihar and Jharkhand. The  development came just after the EV sector saw growing interest from investors. The predicted EV  finance market size is around 50 billion USD in the next six years.