AMU Leasing, a Delhi-based EV exclusive lending platform and India’s only woman-led technology-driven NBFC startup, expects to achieve double-digit growth in FY2023 on the back of its expnasion plans for new regions.
AMU Leasing will be looking at financing 1 million EV stakeholders by 2026. With this expansion it aims to become one of the leading financial solutions providers for the EV ecosystem in India.
The firm stated that it has achieved a growth rate of 24 percent in its loan portfolio and almost 2000 percent growth in PAT (Profit After Tax) through state-of-the-art technologies and enhanced user-experience across industries such as the emerging sustainable mobility ecosystem.
It further stated that the major growth of the organisation is driven by two main sectors, Driver-cum-ownership (DCO) financing from tier 2 and tier 3 cities and the enterprise or B2B segment, constituting fleet operators/aggregators and third party logistics players for electric three wheeler passenger and commercial vehicles.
Nehal Gupta, the CEO of AMU Leasing says, “AMU has witnessed stellar demand and a 30 percent month on month growth with an average yield of between 22 to 24 percent.”
He further added, “We are consistently working towards building a robust ecosystem aimed at providing comprehensive and dynamic financial services to our existing clients and further using technology to curate more suitable products for stakeholders within the EV ecosystem. We will also be expanding our offerings across new cities in the upcoming months.”
The company said, It has served 1,000+ clients, helping them clock more than Rs. 300 million in revenue over the lifespan of their vehicles. It aims to finance 1 million EVs by 2030.
The firm has set a target to raise debt and angel funding over the next two years to facilitate credit growth. As part of that, it will continue to explore partnerships and investment opportunities with top-notch national banks and high networth individuals.