Perpetuity Capital, a fintech platform focusing on clean-tech mobility, has successfully raised Rs 7 crore through Non-Convertible Debentures (NCDs) from N+1 Capital and RevX Capital.
The funds will be used to bolster Perpetuity Capital’s lending capabilities and expand its loan portfolio, with a particular focus on East India. This initiative aims to foster the adoption of eco-friendly mobility solutions in the region.
Under the leadership of Karamveer Dhillon, Perpetuity Capital provides financing options for delivery and autorickshaw drivers to purchase electric vehicles for commercial purposes. In October 2023, the company secured Rs 5 crore in debt from Clime Finance.
In the electric vehicle financing sector, Perpetuity Capital faces competition from companies like Vidyut, Revfin, Finayo, Mufin Green Finance, OTO, evfin, and Hero FinCorp. Notably, Revfin raised $14 million in a Series B round led by Omidyar Network in December, while Vidyut secured $10 million in February this year.
