Turno raised $13.8 million in Series A co-led by B Capital and Quona Capital

Share via:

Commercial EV-focused fintech startup Turno raised $13.8 million in Series A co-led by global venture capital firms B Capital and Quona Capital where existing investors Stellaris Venture Partners and Avaana Capital and new investors Alteria Capital and InnoVen Capital also participated.

Turno provides financing options for SMEs and individuals looking to purchase used commercial three-wheeler electric vehicles. The startup assists SMBs and individuals in selecting an appropriate commercial EV and then enables them to purchase the electric vehicle by providing credit via its Turno credit app. The startup intends to use the new funding to expand its electric vehicle distribution platform across India and to provide used battery solutions to address EV users’ pressing concerns. The startup claims to provide low-cost financing as well as a guaranteed buy-back value for used EV batteries. It claims to have captured nearly 20% of India’s commercial EV market.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Turno raised $13.8 million in Series A co-led by B Capital and Quona Capital

Commercial EV-focused fintech startup Turno raised $13.8 million in Series A co-led by global venture capital firms B Capital and Quona Capital where existing investors Stellaris Venture Partners and Avaana Capital and new investors Alteria Capital and InnoVen Capital also participated.

Turno provides financing options for SMEs and individuals looking to purchase used commercial three-wheeler electric vehicles. The startup assists SMBs and individuals in selecting an appropriate commercial EV and then enables them to purchase the electric vehicle by providing credit via its Turno credit app. The startup intends to use the new funding to expand its electric vehicle distribution platform across India and to provide used battery solutions to address EV users’ pressing concerns. The startup claims to provide low-cost financing as well as a guaranteed buy-back value for used EV batteries. It claims to have captured nearly 20% of India’s commercial EV market.

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at [email protected]

More like this

What to watch on Apple TV Plus

Apple TV+ offers exclusive Apple original TV shows...

Startups Supported By MeitY Startup Hub Showcase Their Innovations

India has close to 1.2 Lakh DPIIT_registered startups...

PasarPolis doubles revenue in 2 years, eyes profitability soon

The Indonesian insurtech company noted triple-digit growth month...

Popular

Upcoming Events

Startup Information that matters. Get in your inbox Daily!