Metafin helping businesses move from fossil fuel to cleaner sources of energy raises $5M

Cleantech-focused NBFC, Metafin, raises $5 million in equity funding to help businesses transition from fossil fuels to cleaner energy sources.

The startup plans to expand across states, grow its loan book, enhance its technology and IoT stack, and hire key talent.

Metafin aims to provide rooftop solar loans to semi-urban and rural Micro, Small, and Medium Enterprises (MSMEs) to address the market gap of affordable power in rural areas.

Their goal is to finance over 1 million solar projects in the next 5 years and contribute to India's target of 280GW solar adoption by 2030

Metafin has enabled almost 1,000 solar installations in UP & Bihar, helping avoid 147 million Kgs of CO2 emissions to date.

Metafin is actively collaborating with banks and financing partners to provide specialized lending to the retail-scale solar segment.

The company's technology-first and partnership-driven approach addresses the challenges of affordability and distribution in solar adoption.