[Exclusive Interview] India's 1st Women-Led Cleantech Financing Platform Is Determined To Fund 1 Million Electric Vehicles By 2030

Recently, we interacted with Nehal Gupta, Director, AMU Leasing – first women led AI and tech driven NBFC exclusively serving the EV ecosystem.

Here are the interview highlights:

1. Can you provide an overview of AMU Leasing’s mission and vision, particularly in the context of cleantech financing and the EV ecosystem in India?

We started our journey in the BFSI industry as a Delhi-based RBI-licensed NBFC over two decades ago. Today, as the first woman-led cleantech financing platform with a focus on the Electric Vehicle ecosystem, our company’s commitment to advanced cleantech financing and EVs has helped us emerge as a leading force in the sector. Over the last three years, AMU Leasing’s vision has evolved and maintained a strong focus on Sustainable Energy financing and leasing, with varied segments including electric two and three-wheelers. With a customer base of over 5,000, we are driven by our commitment to sustainability and helping India meet the Greener Economy target by 2030. Our immediate mission is to 1 million EVs by 2030 and lead the sustainable financing ecosystem. Through our services, we aim to help customers in rural and semi-urban areas become self-reliant through self-employment and micro-entrepreneurship opportunities. We envision our brand as a pioneering force in the EV financing sector that will emerge as a true example of adaptability, resilience, and unwavering commitment to sustainable development. 

2. What inspired you to establish a cleantech financing platform with a focus on EVs and sustainable development in tier 2 and 3 cities?

The inspiration to establish a cleantech financing platform focused on EVs and sustainable development in tier 2 and 3 cities is driven by our core belief that these cities harbor immense growth potential. AMU Leasing recognized the potential of India’s tier ii and iii cities to become profitable markets for EV financing,  which, in turn, can improve livelihood at a large scale and uplift the economy. By lending our support to tier ii and iii cities to transition successfully to cleaner and sustainable modes of transportation, including two and three-wheelers, we aim to contribute to a greener future. As a cleantech financing platform, our primary focus on the alternative fuel-based transportation segment intends to propel revenue and boost financial inclusion in the country. We support micro-entrepreneurs and MSMEs by helping them to build electric fleets which add to employment generation. From the very early stage of our venture, we realized that the cleantech financing space needs to shift focus from conventional financing forms for the wholesome improvement of society, and we, as a pioneer company, are willing to lead that change, starting with promising tier ii and tier iii cities.

3. Could you share some insights into the geographical expansion of AMU Leasing? What are the key factors that have contributed to the company’s growth in 6 Indian states?

AMU Leasing’s rapid geographical expansion backed by an evolved focus on sustainability has been remarkable.  So far, we have expanded to 9 states and intend to increase the number to 12 states, including Azamgarh, Lucknow, Karnal, Panipat, and Rohtak, by the end of this year. We plan to expand through partnerships and alliances and by optimizing our operations to make notable strides in meeting our mission of extending financing solutions for sustainable transportation. We have already served 5,000+ customers, contributing to a book value of over Rs. 100 crores. This has allowed us to align our efforts with India’s ultimate goal of a Greener Economy by 2030. As for our feat, we recorded a 463% growth over the last fiscal year, with a plan to sustain and increase the growth percentage by prioritizing innovation and reliability.  I believe that our efforts towards sustainable financing, particularly the EV sector, have helped us emerge as a leading player. In addition, our diverse offering, including leasing and unsecured personal loans with easy approval and loan disbursal has helped us gain diverse customers in both retail and enterprise segments. Our quality customer service fosters an amicable reputation in the market, aiding us to scale our growth plans with ease. Our future-oriented mission to disburse 1 million EVs by 2030 demonstrated our commitment to sustainable change and forward-thinking in the transportation sector. We are confident this will continue to help us expand and increase our customer base in the future.

4. How do you plan to raise $30 million in Debt and Equity, and what will this capital be used for in the coming years?

To raise $30 million in debt and equity, AMU Leasing is following the strategy to leverage our years of knowledge and expertise in the EV financing segment. Our current goal is to align our financing services with micro-entrepreneurship initiatives in India. We believe this approach will help us scale triple-digit growth in the coming years and generate substantial revenue through our diverse services. Our endeavors towards promoting the alternate fuel-based transportation sector, including EVs will help us grow as we cater to the evolving needs of the segment. By leveraging the unique demand for EV financing solutions, we wish to meet our growth and expansion targets, with a key focus on facilitating sustainability. Once we raise the capital, we plan to expand our market presence in more tier-II and tier-III cities and consider plans to expand globally. In addition, we would use the funds to innovate our financing services through the integration of technology to improve loan approval, disbursal, and collection processes. Through our endeavor, we intend to simplify the browsing experience for consumers and empower them with access to capital. 

5. In the context of renewable energy adoption, what innovative financing strategies is AMU Leasing implementing to drive mass acceptance of EVs in India?

We are committed to ensuring mass acceptance of EVs through innovative financing strategies that promote sustainable mobility in India. Our approach is not restricted to financing EVs as we are constantly driving paradigm shifts towards sustainable mobility and helping micro-entrepreneurs build efficient electric fleets of two and three-wheelers. Even today, conventional financers are hesitant about the nascent EV industry. However, we already acknowledge its potential for employment generations and the environment. As a result, we have been proactively harnessing technology to develop efficient financing strategies that favor rural and semi-urban areas and their MSMEs. AMU Leasing is also exploring partnerships with OEMs and tech innovators to develop holistic solutions. We are embracing digital transformation and enhancing customer experience to navigate the dynamic landscape of sustainable mobility finance. Subsequently, we are educating the masses about the perks of switching to EVs and the easy means to finance their vehicular requirements. Besides these, our team is proactively educating the masses through campaigns and programs to inform them about the importance of financial management and how to take charge of it. Educating customers on the benefit of taking charge of finances empowers them to avoid defaults and manage their savings better. This awareness, in turn, ensures the smooth collection of debts for companies like ours.