Credifin has kicked off its operations in Gujarat, marking the 14th state and union territory in India where it will offer its full portfolio of electric vehicle (EV) financing solutions.
Starting in August 2025, the company will establish its presence in five major cities: Ahmedabad, Gandhinagar, Rajkot, Surat, and Vadodara.
Credifin, formerly PHF Leasing Limited, is headquartered in Jalandhar with a corporate office in Delhi-NCR.
It has emerged as a key player in India’s EV financing landscape, particularly for E-rickshaws, E-loaders, and electric two-wheelers.
The company is registered with the Reserve Bank of India and has been operational since 1998.
Shalya Gupta, CEO, Credifin highlighted the strategic importance of the Gujarat expansion, stating, “Gujarat presents an opportunity to us to offer integrated financing solutions and collaborate with local EV dealerships, OEMs, and FinTech partners. We have plans to be present across all major cities in Gujarat by the end of FY 2026-27 and hope to offer our other products in the rest of the markets as well.”
Credifin aims to begin with 30 to 40 employees in Gujarat and scale up to 100 by next year, with a focus on strengthening dealer networks and catalysing the state’s adoption of electric mobility.
The expansion is expected to accelerate EV penetration in key logistics, delivery, and transportation segments across both urban and rural markets.
Currently, Credifin operates in over 200 locations across 14 states and union territories, employing more than 750 people.
As of FY 2024-25, the company reported assets under management (AUM) of Rs 350.77 crore.
The Gujarat foray underscores Credifin’s broader mission of enabling India’s green mobility shift through accessible and tailored financing options.
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