British International Investment to lead climate fintech funding
Ecofy Finance, a non-banking financial company focused on climate change solutions, is set to raise Rs 380 crore (approximately $43 million) in a Series B equity round led by British International Investment. According to regulatory filings with the Registrar of Companies, the company’s board has approved the issuance of equity and Series B preference shares to raise Rs 380.5 crore. Post-allotment, Ecofy is expected to be valued at around Rs 800 crore (about $89 million).
Global investors join round to support sustainable finance growth
British International Investment will contribute Rs 220 crore in the round, while Finnfund Digital Access Impact Fund will invest Rs 70.5 crore. Existing investors FMO and promoter Green Growth Equity Fund (Eversource Capital) will invest Rs 65 crore and Rs 25 crore respectively. After the round, GGEF will hold 49.59 percent stake in Ecofy, while FMO, BII, and Finnfund will own 16.23 percent, 20.36 percent, and 6.53 percent respectively.
Financing climate-focused infrastructure and sustainable technologies
Ecofy provides financing solutions for climate-focused initiatives including electric vehicles, rooftop solar installations, energy-efficient equipment, energy storage systems, e-mobility infrastructure, waste recycling and water management projects. The company aims to support sustainable private sector growth in emerging markets by investing in businesses and projects driving the energy transition.
Rapid revenue growth driven by green finance demand
Ecofy has witnessed strong operational growth, with revenue rising 4.8 times to Rs 93.3 crore in FY25 compared to Rs 19.19 crore in FY24. However, losses also increased 15.6 percent to Rs 42.28 crore during the same period as the company continues investing in expansion. As an early entrant in solar and electric vehicle financing, Ecofy has built a strong distribution network and portfolio expertise, positioning it to benefit from India’s accelerating clean energy transition.
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