NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

BY Teena Jose

Mufin Green Finance, an EV financing company, has secured INR 80,000,000 funding from Shell Foundation- (a UK registered charity) to create a $2 million joint de-risking pool in the form of FLDG (First Loan Default Guarantee). The funding is aimed at catalyzing commercial debt by enabling Mufin to leverage approx.$ 40-60 million debt over five years.

Photo courtesy of khengsiong.