NEW DELHI, 19th April 2025
Revfin, India’s leading electric vehicle (EV) financing platform, has announced three key changes in its top management as it aims to achieve a Rs 750 crore financing target for EV loans in fiscal year 2025-26.
The company is particularly focused on the rapidly expanding L5 (E-autos) electric vehicle sector and intends to nearly fivefold its operations over the next two years, with an emphasis on expanding its role in intracity transportation via EV financing.
Abhinandan Narayan has been appointed Chief Business Officer – New Business at Revfin to help with this expansion. Narayan, who previously worked at Prepladder under Unacademy, will be responsible for expanding financing opportunities in both existing and new market segments. Monish Vohra, who was previously the Head of Customer Experience and Operations at SBI Cards, has been named Chief Operating Officer – Operations and Collections. Anirudh Gupta, who previously worked at Grant Thornton Bharat, has been named Chief Finance & Strategy Officer, in charge of financial planning and investor relations.
Commenting on these appointments, Sameer Aggarwal, Founder and CEO of Revfin, acknowledged the EV industry’s challenges over the last year but expressed confidence in its significant potential. He emphasized that small commercial and intracity vehicles are expected to transition completely to electric in the near future, as well as the importance of establishing clear objectives and assembling an effective leadership team to fuel growth.
Revfin expects to finance approximately 24,000 electric vehicles in FY2026. The company has already financed over 85,000 EVs in 25 states and operates in over 1,000 towns, with approximately 75% of its borrowers coming from underserved communities. Driver partners associated with Revfin have collectively traveled over 1.6 billion electric miles and earned more than USD 400 million.
In the previous fiscal year, the company made significant progress in expanding its L5 vehicle loan portfolio, aided by a collaboration with Bajaj. Furthermore, it strengthened alliances with logistics and mobility companies such as Delhivery, Rapido, Shadowfax, IndoFast, and Tata Motors. The L5 segment is a primary focus for FY2026, as Revfin seeks to expand its presence in mid- and last-mile mobility solutions.
Revfin sees L5 vehicles as a critical strategic initiative because of their ability to replace internal combustion engine (ICE) vehicles and help India’s decarbonization efforts. This segment is gaining market traction, with new product launches facilitating increased consumer adoption.
Revfin, founded in 2018, is a digital lending platform focused on promoting sustainable mobility and financial inclusion. The company offers financing for electric vehicles through its own non-banking financial company (NBFC), which uses alternative data sources such as biometrics, psychometrics, and gamification for borrower assessment. Revfin provides financing for electric two-wheelers, three-wheelers, four-wheelers, batteries, and charging infrastructure.
