India, March 16 -- Green finance-focused NBFC Ecofy has raised Rs.380.5 Cr ($42 Mn) in an equity round led by British International Investment (BII) and Finland-based Finnfund. The round also saw participation from existing investors FMO and Eversource Capital.

Founded in 2023 by Rajashree Nambiar and Govind Sankaranarayanan, Ecofy provides loans to small-medium enterprises (SME) and individuals for two and three wheeler electric vehicles, commercial and industrial rooftop solar installations, energy efficient equipment financing and supply chain financing loans. It provides loans in the range of Rs.1 Lakh to Rs.1.5 Cr for a tenure between six months to five years.

The lender is planning to use the fresh capital infusion toward scaling ...