Chargeup, EV platform providing Energy-as-a-Service (EaaS), has entered into partnerships with Credit Fair and Ascend Capital, non-banking financial corporations (NBFCs). Through these partnerships, the company aims to facilitate ₹100 crore as quick and secured loans in FY25, the company said.

Varun Goenka, CEO and Co-Founder, Chargeup, said, “At Chargeup, we have built a strategic driver-first platform that is redefining the arena of energising EVs. The partnerships with Credit Fair and Ascend Capital will enable us to create highly impactful, and driver-centric financial solutions enabled digitally from financing to lifecycle management of the asset.”

Commenting on the collaboration, Vikas Agarwal, Co-Founder & CBO, Credit Fair, said, “We recognise a seamless alignment of vision and mission with Chargeup’s driver-centric approach. Our objective is to offer subsidy-independent, cost-effective credit, easing the transition to EVs for drivers. By joining forces, we are well-positioned to enhance our contribution to the creation of a sustainable and inclusive EV ecosystem.”

Lokesh Chandra, CEO and Co-founder, Ascend Capital, said, “Our partnership with Chargeup signifies a commitment to bridging the gap between energy and vehicle financing. We have recently raised ₹50 crore, which will give us a boost to strengthen our mission of empowering drivers in the underserved Tier-II and -III cities across India and unlocking new opportunities for widespread economic growth for all.”