Paisalo Digital Limited Secures INR 200 Cr Funding from IREDA to Drive E-Vehicle Adoption Nationwide

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Mr. Santanu Agarwal - Deputy Managing Director, Paisalo Digital Limited

On February 27, 2024, Paisalo Digital Limited, a Systemically Important Non-Deposit taking Middle Layer NBFC authorized by the Reserve Bank of India, celebrates a significant achievement in securing INR 200 Cr funding from the Indian Renewable Energy Development Agency Limited (IREDA). This landmark funding round marks a crucial step forward in extending financial assistance to electric vehicle (EV) buyers.

The raised capital will be allocated towards the expansion of Paisalo Digital Limited’s lending portfolio dedicated to the E-mobility sector. This strategic initiative aims to empower consumers to make environmentally conscious decisions while advancing cleaner transportation models and reducing carbon emissions.

Expressing his thoughts on the collaboration with IREDA, Mr. Santanu Agarwal, Deputy Managing Director of Paisalo Digital Limited, emphasizes the company’s commitment to sustainable growth without compromising environmental integrity. He states, “At Paisalo, we recognize the importance of fostering growth while preserving our environment. Building on our past achievements, we are excited to bolster our E-mobility portfolio with the INR 200 Cr funding from IREDA. Aligned with IREDA’s vision of ‘Energy for Ever,’ these funds will strengthen our ability to provide timely financing solutions for EV buyers.”

The organization remains dedicated to collaborating with key stakeholders in the electric vehicle ecosystem to streamline and enhance the financing process for consumers transitioning to E-mobility.