Ecofy Finance Private Limited has raised ₹380.5 crore from a Series B fundraise led by British International Investment and FinnFund Digital Access Impact Fund I, with participation from existing investors Eversource Capital, FMO and Green Growth Equity Fund.
Khaitan & Co advised Ecofy and existing investors FMO and Green Growth Equity Fund on this fundraise. The Firm conducted vendor legal due diligence and advised the Companies on transaction structuring and documentation.
The core transaction team consisted of Vidushi Gupta (Partner), Soumil Garg (Partner), Shriya Amol Kamat (Senior Associate), Associates Naina Bora, Vanshika M Banthia, Aman Nayar and Priyadarshini Dutt.
Deepak Kumar (Partner) assisted with Employment related aspects of the vendor legal due diligence.
Established in 2022, Ecofy is an exclusive green-only non-banking financial company (NBFC) financing individuals and businesses for eco-friendly initiatives. Ecofy offers financial solutions specifically for green assets and aims to accelerate India's green transition by providing climate finance and green loans.
Ecofy plans to deploy the fresh funds to expand their offerings into rooftop solar, EVs and SME financing market.
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