SUMMARY
Under this programme, the startup aims to offer loans up to INR 2 Lakh at interest that may go down to less than 1% with EMIs spanning 20 months
It will also offer additional flexibility to buy components like battery replacements and essential system upgrades that are crucial throughout an e2W’s ownership lifecycle
The solutions will also include an exchange option, allowing consumers who wish to exchange their existing Internal Combustion Engine (ICE) two-wheelers for a new e2W
AI-led fintech startup CASHe has rolled out a new initiative, CASHe Green, to offer customised finance solutions for electric two-wheelers.
The startup has partnered with three two-wheeler OEMs and will provide users with a user-friendly, fully digital finance solution.
The scheme offers affordable interest rates of less than 1% per month and EMIs spread over 20 months, making e2Ws a financially attractive option, the company said in a statement.
The financing options extend up to INR 2 lakh in credit, enhancing accessibility for potential buyers. The finance solution also includes an exchange option, allowing consumers to swap their existing Internal Combustion Engine (ICE) two-wheelers for a new e2W.
Additionally, it provides flexibility in financing components like battery replacements and essential system upgrades throughout an e2W’s ownership lifecycle.
CASHe’s CEO Yashoraj Tyagi said, “CASHe Green is a technology platform fully focused on financing 2W electric mobility. With its user-friendly digital lending suite, pocket-friendly finance solutions and countrywide reach, we aim to create an innovative, tailor-made financial experience for e2W customers.”
He added that the startup aims to democratise EV consumers’ access by offering cost-effective financing options.
“Through CASHe Green, we are happy to promote a sustainable and net-zero emissions future by providing financial support to individuals making eco-conscious choices,” Tyagi said.
According to the startup, it is aiming to redefine the terms of a traditional two-wheeler loan and offer innovative financial solutions that will drive even wider adoption of zero-emission technologies.
CASHe claims to have built an infrastructure that aligns with consumers’ financial and sustainable goals, seamlessly integrating with OEM partners to enable users to sign up, qualify, and apply for instant credit through CASHe Green’s platform.
Recently, another EV financing startup Ascend Capital raised INR 50 Cr in its Series A funding round with an aim to become a forefront player in building India’s mobility finance industry.
Another startup called OTO secured $10 Mn to expand to more than 30 Indian cities, transitioning into the electric vehicles category and strengthening its existing partnerships.
