Fintech Leader M2P Empowers Greaves Finance’s evfin with Cutting-Edge EV Financing Solutions
In a groundbreaking move, M2P Fintech, a fintech infrastructure provider, has unveiled its electric vehicle (EV)-ready Core Lending Suite, marking a significant step toward reshaping the landscape of EV financing.
This announcement follows the successful launch of an EV financing product in partnership with Greaves Finance Ltd., a Non-Banking Financial Company and subsidiary of Greaves Cotton Limited. Greaves Finance’s innovative financial platform, evfin, is set to transform the EV financing industry with cutting-edge technology and user experiences.
M2P Fintech’s Core Lending Suite integration makes evfin the first customer to offer an EV financing solution powered by M2P. This innovative product focuses solely on financing options for electric vehicles, addressing a growing demand in the market.
To bolster evfin’s capabilities, M2P Fintech provides comprehensive support, including a mobile application, loan origination system, loan management system, Business Rule Engine (BRE), and a delinquency management system. This robust suite of tools enables customers to complete the onboarding process in under 5 minutes, enhancing the user experience.
Madhusudanan R, Co-founder of M2P Fintech, expressed excitement about shaping the future of EV financing in India, making it more accessible and efficient for consumers. He highlighted that this partnership aims to drive the widespread adoption of electric vehicles, aligning with India’s sustainable development goals.
Sandeep Divakaran, ED and CEO of Greaves Finance, emphasized evfin’s commitment to democratizing the EV experience by providing end-to-end lifecycle support for EV owners. He praised the collaboration with M2P Fintech, combining evfin’s deep industry understanding with M2P’s fintech solutions to redefine how people access and afford electric vehicles. Together, they aim to create a greener and more financially inclusive future.
M2P Fintech, with over 15 million borrowers across 85 NBFCs and over $10 billion in disbursements, aims to become the go-to platform for anyone interested in building a lending business, further solidifying its global presence.