To Fill the Gap in Green Financing, TapFin Introduces GoGreen Capital

In order to provide funding options for cleantech companies, fintech company TapFin has launched a new NBFC subsidiary, GoGreen Capital. According to a statement from the fintech startup, the NBFC will provide tailored finance options for sustainability-driven projects to startups, small enterprises, original equipment manufacturers (OEMs), engineering, procurement, and construction (EPC) firms, and others. GoGreen Capital will initially concentrate on serving borrowers in the solar, battery circulatory, and clean mobility industries. According to a release from TapFin, "GoGreen Capital will offer leasing solutions, business loans, and commercial asset loans that are specific to the clean mobility, battery, and solar ecosystems." TapFin, a fintech startup founded in 2023 by Aditya Singh, Pramod Marar, and Terniza Berry, provides business loans, supply chain financing, insurance, and other services for the cleantech industry. Speaking to a media outlet, Marar said that the company requested an NBFC licence after obtaining a $4 million seed round from Elevar Equity the previous year. The company eventually received the NBFC licence. In the past few months, the brand has been working to establish the budget, systems, personnel, policies, procedures, and, of course, money.

How NBF will Benefit TapFin?

To provide loans to borrowers, the NBFC will make use of TapFin's data-driven underwriting and contextual credit evaluations. These evaluations are founded on non-traditional insights, including battery analytics, fleet operations, ecosystem alliances, and vehicle usage patterns. With the establishment of the NBFC, TapFin will be able to lend money from its own books, build an asset base, and lessen its reliance on outside platforms. In order to reach tier-II and tier-III cities, GoGreen Capital is also seeking to partner with financial institutions to broaden its green financing options, including co-lending opportunities. In addition, the startup announced that GoGreen Capital will leverage 'TapFin Hub', which is TapFin's proprietary platform. This platform's core capabilities include OEM and supplier whitelisting, real-time asset management and monitoring through advanced AI models, portfolio valuation, and disposal monetisation. Together, these features will enable GoGreen Capital to achieve a more innovative and expedited go-to-market.

India’s Fintech Startup Witnessing Decline in Funding

Fintech funding has decreased in the first quarter of 2025 due to macroeconomic difficulties and geopolitical headwinds (January-March). A total of $366 million was raised in the first quarter of 2025, which is 35% less than the $571 million raised in the same quarter the previous year. According to market research platform Tracxn, the fintech industry raised a comparable amount of money ($365 million) in Q4 2024. Early-stage funding decreased by 41% from $157 million raised in Q4 2024 to $92.6 million in the March quarter, a 56% fall from $210 million in Q1 2024. $45.9 million was raised for seed-stage finance, which is 39% less than the $75.5 million raised in Q1 2024 and 16% less than the $54.6 million raised in the preceding quarter.