Paisalo Digital Ltd, a middle layer NBFC registered with the Reserve Bank of India has raised ₹200 crore from Indian Renewable Energy Development Agency Limited (IREDA).

The funds raised will be utilised to expand Paisalo Digital’s portfolio of lending for e-mobility sector. The company strategically takes this step to empower consumers to make environmentally conscious choices while promoting cleaner models of transportation and reducing the carbon footprint, it said.

Santanu Agarwal, Deputy Managing Director, Paisalo Digital shares, “At Paisalo, we are very conscious that accelerated growth in our businesses cannot come at the cost of deteriorating environment. In line with our robust performance previously, we look forward to further strengthening our e-mobility portfolio by obtaining ₹200 crore funding from IREDA.”

Resonating with IREDA’s motto of ‘Energy for Ever’, the funds secured shall be utilized to elevate our competency in promptly meeting the financing requirements for EV buyers, he added.

The company will continue to take efforts to collaborate with other stakeholders in the electric vehicle ecosystem to create a seamless and efficient financing process for consumers interested in making the switch to E-mobility, it said.

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