Ecofy Finance is set to raise about Rs 380 crore in a Series B round led by British International Investment (BII), signalling growing investor confidence in India’s green finance sector. The fresh capital will support the non-banking finance company’s plans to scale lending for renewable energy, electric mobility and other climate-friendly technologies.
Funding mix and investor lineup
Regulatory filings show Ecofy’s board has approved issuing equity and over 3.8 crore Series B preference shares to raise the planned capital. BII, the UK government–backed development finance institution, is expected to lead the round with an investment of roughly Rs 220 crore.
Other confirmed and expected participants include Finnfund Digital Access Impact Fund, which is likely to invest about Rs 70.5 crore, and FMO, the Dutch entrepreneurial development bank, which is expected to put in approximately Rs 65 crore. The promoter-backed Green Growth Equity Fund, managed by Eversource Capital, is set to contribute around Rs 25 crore.
Post-money valuation after the round is estimated at about Rs 800 crore, underscoring rising appetite among development financiers and impact investors for India-focused climate finance platforms.
Use of proceeds and business focus
Ecofy specialises in financing environmentally sustainable technologies and services. Its lending portfolio covers electric vehicles, rooftop solar, energy-efficient equipment, battery storage, waste-management solutions and water sustainability projects.
The new capital will be deployed to expand lending capacity, deepen product offerings and extend reach to businesses and consumers aiming to adopt low‑carbon technologies across urban and semi-urban markets.
Recent financial performance
Ecofy reported strong top-line growth in FY25, with revenue rising to Rs 93.3 crore from Rs 19.19 crore a year earlier, reflecting accelerating demand for green finance. At the same time, investments in origination, technology and branch expansion widened losses to Rs 42.28 crore for the year.
As India advances ambitious renewable energy and electric mobility targets, specialised NBFCs such as Ecofy are emerging as critical intermediaries—bridging capital from international development financiers to domestic clean-technology adopters.
