Metafin, a solar financing platform focused on rural micro, small, and medium enterprises (MSMEs) and households, has secured a $10 million structured debt facility from Lendable. This funding will enable the expansion of solar energy financing solutions in underserved rural areas of India, helping small businesses and households transition from diesel-based systems.
The debt facility, provided through Lendable’s Transportation and Energy Fund, will specifically target productive-use solar systems for MSMEs and enterprises in rural and remote regions.
Co-founded by Sandeep Chopra and Aditya Shah, Metafin integrates a solar financing model with a network of over 1,000 local installers and a servicing arm for deployment and maintenance.
Metafin has a track record of financing more than 6,500 solar projects in over 4,000 villages across five states, resulting in the reduction of over 30 million kilograms of CO₂ emissions and the displacement of approximately 11 million liters of diesel.
Metafin is supported by investors such as Vertex Ventures SEAI, Prime Venture Partners, and Varanium Capital, and collaborates with financial institutions like SBI, Northern Arc, and AU Small Finance Bank.
Source: Entrackr : Latest Posts