Ecofy, a non-banking financial company focused on climate change solutions, has successfully raised Rs 380.5 crore (approximately $42 million) in a Series B equity round. The funding was co-led by British International Investment and Finnfund, with contributions from existing investors Eversource Capital and FMO. This development was reported exclusively by Entrackr last week.
Founded in 2022, Ecofy aims to finance economically sustainable climate initiatives, including electric vehicles, rooftop solar systems, energy-efficient equipment, and more. The company plans to be a key player in driving the transition towards a net-zero carbon world, partnering with individuals and small businesses to reduce their carbon footprint.
The newly secured funds will fuel Ecofy’s expansion into rooftop solar, electric vehicles, and SME financing. This growth strategy is supported by a solid balance sheet, experienced leadership, robust governance frameworks, and a purpose-driven operating culture.
With a significant increase in revenue from operations to Rs 93.3 crore in FY25 and notable customer growth, Ecofy has positioned itself as a leader in sustainable finance. The company plans to further scale its retail green lending in collaboration with banks and financial institutions.
Source: Entrackr : Latest Posts