Climate-focussed NBFC Ecofy raises $10.8M to grow its loan book
Jan 2024 Other
Backed by Eversource Capital, Ecofy offers loans to climate change-related businesses and individuals, such as for EVs, rooftop solar panels, and SMEs, among others.
Ecofy, an NBFC that focuses on supporting green projects, said on Wednesday it has raised $10.8 million from FMO, a Dutch Entrepreneurial development bank.
The investment, divided into two equal tranches, will be used by the company to grow its loan book, facilitate product diversification, and expand across the country, the company said.