Mufin Green Finance has raised Rs 140 crore in Series B round of equity funding. The capital will be used to accelerate Mufin’s growth trajectory and scale up their business operations in the down west region of the country.
Kapil Garg, MD, Mufin Green Finance, said, “The funding affirms the strength of our business model and positions us effectively to meet the ever-increasing demands of our expanding customer base. Further, it will equip us to explore more product avenues in the EV ecosystem, as we are looking to further invest in more electric vehicle categories from buses, LCVs to commercial four-wheelers.”
The company’s Asset Under Management (AUM) was Rs 502 crore as on December 2023 and is expected to close FY2024 with an AUM of Rs 650-700 crore.
