A fintech platform specializing in clean-tech mobility , perpetuity capital , has raised Rs 7 crore through Non-Convertible Debentures (NCDs) from N+1 Capital and RevX Capital.
Perpetuity Capital plans to use these funds to enhance its lending capabilities and expand its loan book, mainly focusing on the regions of East India. This strategic move is aimed at promoting the adoption of environmentally friendly mobility solutions in these states.
Founded by Karamveer Dhillon, Perpetuity Capital helps delivery drivers and autorickshaw drivers avail finance to purchase electric vehicles for commercial use.
In October 2023, Perpetuity Capital raised Rs 5 crore in debt from Clime Finance.
In the electric vehicle financing space, Perpetuity Capital competes with Vidyut, Revfin, Finayo, Mufin Green Finance, OTO, evfin, and Hero FinCorp, among others.