Perpetuity Capital, a fintech platform specializing in clean-tech mobility, has raised ₹7.5 crore through a combination of equity and debt.
The funding round saw participation from notable investors, including Inderpreet Wadhwa (Founder & Former Chairman of Azure Power Global), Sudhir Kothari (CEO of Embee Software), Transaction Square LLP, the founders, and family offices including Silver Pearl, Baid Holdings, Clime Finance, and Wint Capital.
The funds raised will be used to enhance its lending capacity and extend its operations into Tier II and Tier III towns across India.
“We are thrilled to welcome such a distinguished group of investors into the Perpetuity family. This funding is not just a testament to our vision but also a significant milestone in our journey toward building a sustainable and inclusive future. The funds will be instrumental in scaling our operations, refining our technology, and reaching more underserved customers across India,” said Karamveer Dhillon, Founder and CEO of Perpetuity Capital.
Founded in 2017 by Karamveer Dhillon and Karan Dhillo. Perpetuity Capital, a Non-Banking Financial Company (NBFC), that focuses on providing financing for 2- and 3-wheeler electric vehicles, targeting single-owner drivers, fleet operators, and gig workers.
Perpetuity Capital uses non-traditional data points to assess credit for customers who often lack access to financing through formal banking channels. Perpetuity Capital claims to have financed over 2,000 electric vehicle assets to date, reporting a Gross Non-Performing Asset (GNPA) ratio of 1.8% and its platform now includes over 40 EV OEMs.
