Solfin raises Rs 2.8 billion for green financing initiatives

Solfin Sustainable Finance has secured Rs 2.8 billion in a recently closed funding round. The fresh capital will be utilised for investments in artificial intelligence-driven credit models, portfolio monitoring and collections. It will also support expansion into underpenetrated states, development of green financing products and entry into adjacent customer segments. Solfin Sustainable Finance is a distributed green asset delivery and financing platform with a captive non-banking financial company (NBFC). It aims to expand clean energy adoption across India. The company is backed by Waaree Sustainable Finance Private Limited and expanded its clean energy financing network through partnerships with engineering, procurement and construction companies, dealers, and original equipment manufacturers.