Full-stack Sustainability Platform TapFin raises $4M in funding led by Elevar Equity

TapFin, a startup focused on green financing solutions, has raised $4 million in a seed funding round led by Elevar Equity.

Founded in 2023 by Terniza Berry, Aditya Singh, and Pramod Marar, the startup plans to use the capital raised to expand its market presence, hire top talent, enhance its technological and data capabilities, and broaden its service offerings. 

It aims to revolutionize India's sustainability landscape by providing comprehensive financing solutions and value-added services to key players in the clean mobility ecosystem.

Facilitating India's transition towards sustainability

TapFin's mission is to facilitate India's transition towards sustainability by creating a platform that supports all aspects of the sustainability transaction.

"Our goal is to be a part of every sustainability transaction in the country by getting all ecosystem participants on our platform," stated Aditya Singh, co-founder and CEO of TapFin.

The company's unique approach involves offering a suite of services, including financing, insurance, demand aggregation, market linkages, and OEM selection, thereby empowering MSMEs and startups to leverage sustainability for economic growth.

The current landscape of the clean mobility industry

The Sustainability ecosystem is going to see unprecedented growth, driven by demand from the private sector and a push for adoption by the Government. The Clean Mobility Industry in India is estimated to be around $34.80 billion in 2024 and is expected to reach $110.74 billion by 2029, growing at a CAGR of 26.05%.

The growth is expected to be driven by Tier 2/3 cities and urban centres, collectively contributing to the rapid expansion of the Sustainability ecosystem.

Strategic expansion and diverse offerings

With the fresh capital, TapFin plans to extend its reach beyond major metropolitan areas into tier 2 and tier 3 cities, recognizing the untapped potential in these regions. The startup is not only focusing on clean mobility but also aims to diversify into other sustainability verticals, such as solar energy and renewable technologies. 

Sandeep Farias, Founder and Managing Partner, Elevar Equity said, “We see immense potential in TapFin’s goal to become India’s leading technology-led Sustainability Platform, offering a range of value-added services. The Platform is designed to unlock the economic and entrepreneurial potential – and aspirations – of MSMEs and Entrepreneurial Households across the country."

"In Terniza, Aditya, and Pramod, we have invested in a founding team with vision, conviction, and diverse execution capabilities necessary to create a new, Sustainability-focused distribution model operating at the intersection of inclusivity, affordability, profitability, and transformative scale. Our investment aligns with Elevar’s goal to focus on the entrepreneurial potential of underserved customers and households and the communities they live in”, Farias said.