April 2025 — Cleantech-focused non-banking financial company (NBFC) Metafin has raised $10 million in a Series A funding round to scale its efforts in financing clean energy adoption across underserved rural communities in India.
The round was led by Vertex Ventures Southeast Asia and India, a subsidiary of Singapore’s Temasek Holdings, and included participation from Northern Arc, AU Small Finance Bank, Prime Venture Partners, and Varanium Capital.
Founded in 2018, Metafin specializes in offering credit solutions to rural households and small businesses for the installation of rooftop solar systems, electric vehicles (EVs), and solar-powered water pumps. The company’s goal is to bridge the financial accessibility gap in India’s clean energy transition by making decentralized, sustainable technologies affordable for low-income and rural consumers.
According to Metafin, the newly raised capital will be used to expand its NBFC operations, strengthen its digital infrastructure, and grow its senior leadership team to support future growth.
Metafin’s business model addresses a key barrier to India’s clean energy expansion: the lack of affordable financing for rural consumers. By offering tailored financial products, it enables households and farmers to invest in renewable energy solutions that reduce dependence on fossil fuels, lower electricity bills, and improve resilience to power shortages.
India is targeting 500 GW of non-fossil fuel capacity by 2030, and rural financing mechanisms like those offered by Metafin are seen as crucial to achieving that goal.
For more on Metafin’s clean energy finance solutions, visit metafin.in.
Sources:
- Vertex Ventures SEA & India – vertexventures.sg
- Metafin company profile – metafin.in
- India Ministry of New and Renewable Energy – mnre.gov.in
