The NBFC raised the capital from the $75-Mn green basket bond issued by Symbiotics Investments and subscribed to by the British International Investment
It plans to use the fresh capital to expand its presence in the rooftop solar financing space, primarily targeting residential as well as MSME customers, including housing societies, in tier-II and III cities
Founded in 2018 by Aditya Damani, Credit Fair is RBI-registered climate-focused NBFC focused on financing solar installations for both individuals and micro, small and medium-sized enterprises
Non-banking financial company (NBFC) Credit Fair has secured $5 Mn in debt from Symbiotics Investments.
The NBFC raised the capital from the $75-Mn green basket bond issued by Symbiotics Investments and subscribed to by the British International Investment. The bond is aimed to drive adoption of renewable energy solutions across Asia and Africa.
The NBFC plans to use the fresh capital to expand its presence in the rooftop solar financing space, primarily targeting residential as well as MSME customers, including housing societies, in tier-II and III cities.
Besides, the funds will address the growing demand for rooftop solar installations, empowering underserved communities with affordable and accessible financing options.
Credit Fair cofounder Vikas Agarwal, said, “This funding comes at a pivotal time when we expand our portfolio to support distributed energy solutions like rooftop solar. With this $5 Mn, we plan to fund 2,500 new rooftop solar projects, directly contributing to the reduction of carbon emissions and providing sustainable energy solutions to thousands of customers.”
Founded in 2018 by Aditya Damani, Credit Fair is RBI-registered climate-focused NBFC focused on financing solar installations for both individuals and micro, small and medium-sized enterprises.
It claims to have helped over 8,000 customers adopt rooftop solar solutions, resulting in a reduction of over 4,100 tonnes of carbon emissions and annual electricity savings.
(The story will be updated soon)
