Funding · Climate, Energy & Sustainability

Ecofy secures $15 million debt from Mirova

What they do

Ecofy is a climate-focused non-banking financial company providing loans for solar and electric vehicles

The company secured $15 million in debt financing from Mirova to expand its operations across India

This follows a recent Series B equity raise of Rs 380.5 crore led by British International Investment

Ecofy has secured $15 million in debt financing from the lender Mirova.
This funding will help the company expand its solar and electric vehicle financing across India.
The deal marks another significant capital injection for the climate-focused non-banking financial company.
Ecofy aims to use these funds to grow its loan book and reach more customers nationwide.
The company continues to attract international investors interested in India's green energy transition.
This debt facility complements the equity funding Ecofy received earlier this year.
Mirova is known for investing in sustainable development and climate solutions globally.
The transaction highlights the growing interest in climate fintech in the Indian market.

Ecofy operates in the high-growth renewable energy sector with strong policy support in India.
Debt financing allows Ecofy to leverage its balance sheet without diluting existing shareholders.
The move signals confidence in Ecofy's business model and growth trajectory among global lenders.
Climate finance is becoming a critical component of India's infrastructure development strategy.

Ecofy provides financing for residential and commercial rooftop solar installations across the country.
The company also offers loans for electric vehicles and energy-efficient equipment purchases.
Additional services include financing for energy storage systems and e-mobility solutions.
Ecofy supports waste recycling and water management projects through its specialized loan products.
The company has a presence in 26 states and over 500 cities in India.
It serves more than 130,000 customers through its extensive network of partners.
Ecofy maintains partnerships with over 100 original equipment manufacturers and 23 banks.
All of its loans are retail-focused, ensuring a diversified risk profile across borrowers.
The company reported a revenue of Rs 93.3 crore in the fiscal year 2025.
Its assets under management exceed Rs 1,400 crore, reflecting substantial lending activity.

Ecofy plans to expand its solar and EV financing operations across more regions in India.
The company intends to increase its customer base beyond the current 130,000 users.
Ecofy may pursue additional debt or equity funding to support further growth initiatives.

Mirova (lender) — Mirova is an investment manager focused on sustainable development and climate solutions.

Product: Financing solutions for electric vehicles, rooftop solar installations, energy-efficient equipment, and renewable energy initiatives
Customers: Small-medium enterprises (SMEs) and individuals seeking affordable financing for sustainable and clean energy assets
How it makes money: Non-banking financial company (NBFC) providing retail and commercial lending for climate-friendly assets with co-lending partnerships
What sets it apart: Specialized climate-focused lending with partnerships across 23+ banks and financial institutions, strong governance and purpose-driven culture