By Pankaj Gupta
1. Tell us the story of how you launched Mufin Green Finance, and how the company has developed since then.
Started in 2016, Mufin Green Finance is a key player within the climate finance industry that provides finance to the unbanked & underserved population but in a greener way. It aims to revolutionize the EV ecosystem of the country with helping people from underprivileged sections of the society, living their dreams of owning a cargo or passenger EV with Mufin’s phygital approach. Being an eminent industry expert in the EV and lending industry with first mover advantage, Mufin has proven itself time and again. Mufin’s climate finance services have helped people become financially independent. Since its inception Mufin has financed EVs worth 40Mn USD.
2. With bolstering the green Finance in the country, How Mufin Green Finance is simultaneously helping in reducing the inequalities and serving unserved segment of society
Mufin’s climate finance services have helped people become financially independent and proud owners of E – Rickshaws’. Mufin Green Finance is helping to reduce inequality and serve the unserved segment of society by providing financing solutions for the purchase of eco-friendly E-Rickshaws. This enables people in the low-income group to become entrepreneurs and improve their standard of living while contributing to the reduction of carbon emissions.
3. What are the initiatives taken by MFG towards promoting entrepreneurship with income generating loan, specially for Women and youth
Mufin Green Finance has taken several initiatives towards promoting entrepreneurship, particularly among women and youth, through income-generating loans.
One of their key initiatives is to provide financing solutions that are specifically designed for the purchase of eco-friendly electric vehicles (EVs). By doing so, Mufin Green Finance is helping individuals, particularly women and youth, to become entrepreneurs and start their own businesses, such as taxi services and delivery services, using these eco-friendly vehicles.
This initiative has empowered women by giving them the means to become financially independent and proud owners of EVs, which not only provides them with a source of income but also helps to reduce carbon emissions. Women empowerment has emerged as a key theme at Mufin Green Finance, as they have been successful in catapulting women to leadership roles within society.
Overall, Mufin Green Finance’s initiatives towards promoting entrepreneurship with income-generating loans, especially for women and youth, have been successful in providing access to finance, skills, and markets, and in empowering individuals to become financially independent and contribute to the reduction of carbon emissions.
4. With its work aligned to the SDG goals,how Mufin Green is adopting clean & green EVs & cutting down on the carbon footprints to combat climate change
With its EV financing solutions, Mufin has helped people from 150 cities materialize their dreams and stocked and prevented more than 1.93 tonnes of carbon emissions. Mufin Green Finance’s adoption of clean and green electric vehicles (EVs) is a significant step towards reducing carbon footprints and combating climate change. EVs produce zero emissions and have a much lower carbon footprint compared to traditional internal combustion engine vehicles thus transitioning to EVs. Mufin Green Finance also promotes sustainability and combat climate change by investing in green infrastructure and renewable energy projects.
5. With its motto of “Climate Financing For A Sustainable Tomorrow”, How Mufin is helping create a fair opportunity for the underserved segment in semi-urban and rural areas by catering to their financial need for income-generating purposes.
Mufin Green Finance’s primarily focuses on SDG generating livelihood and increasing financial literacy by providing hassle free EV Loans to the unserved & underserved, thus creating a positive social as well as environmental impact.
6. What are OEMs Network and how MGF is s promoting female drivers and supporting them through the OEMs network
The OEMs network is a prestigious network of Original Equipment Manufacturers in the electric vehicle industry. Mufin Green Finance (MGF) stands out for its exceptional support of female drivers through this network by providing financing solutions that are tailored to the purchase of eco-friendly electric vehicles(EVs).
MGF’s partnerships with reputable OEMs have allowed it to offer highly attractive financing options to female drivers who aspire to become entrepreneurs and start their own businesses. MGF takes pride in providing comprehensive support that goes beyond financing solutions and become successful entrepreneurs.
Through its unparalleled efforts in promoting entrepreneurship and supporting female drivers, MGF has emerged as a leader in empowering women to become financially independent while contributing to the reduction of carbon emissions.
7. How these OEM networks works in creating a social impact?
With Mufin’s EV Leasing solutions, income generation loans, and e- rickshaws loan, the startup envisions improving the livelihood of communities in rural and semi-urban areas. The company says it focuses on the upliftment of the “unbankable” people of society. OEMs network can have significant impact on the society by creating economic opportunities, sustainability and social impact. OEM networks help create employment opportunities for individuals and unserved sections of society. OEM networks can promote supplier diversity by working with local suppliers and minority-owned businesses which help create opportunities for small businesses, support local economies. OEM networks can contribute to social impact by promoting innovation and technological advancements that address social and environmental challenges.
8. What future do you foresee for EVs in India and across the world and how
EVs have become the promising candidate for the future of green transport. The EV industry is the growing market and is projected to have a market share of 70% and net worth of 206 billion dollars by the year 2030. The global shift towards sustainable energy and decarbonization has been a key driver of this growth. The increasing investment in charging infrastructure, government policies and incentives aimed at promoting the adoption of EVs have further accelerated their growth. The government has announced plans to achieve 30% electric vehicle adoption by 2030, which will require significant investment in charging infrastructure and electric vehicle manufacturing. Overall, the future of electric vehicles seems bright both in India and globally. With continued investment in technology and infrastructure, as well as government support, the adoption of electric vehicles is expected to accelerate further, leading to a cleaner, greener and more sustainable future for the world.
9. How is MGF contributing towards Govt’s mission to reach its zero emissions target by 2070. Future Growth Roadmap for MGF
Mufin has been a key player in promoting the use of electric vehicles in the commercial and last mile logistics industry by providing an easy and accessible way for businesses to own and operate electric vehicles. As a result of their efforts, there are now 30,000 electric vehicles on the road, and the number continues to grow with over 2,000 being added every month. By encouraging the use of sustainable and eco-friendly transportation options, Mufin is helping to reduce carbon emissions and create a cleaner and greener future.
Authored by
(Pankaj Gupta, CEO – Mufin Green Finance)
