Paisalo Digital raises Rs 200 crore from IRDEA to lend for EV buyers

Chennai, Feb 27 (IANS) Listed non-banking finance company (NBFCC) Paisalo Digital Ltd has raised Rs 200 crore from the Indian Renewable Energy Development Agency Limited (IREDA).

According to Paisalo Digital, the funds raised will be utilised to expand the company’s electric vehicle (EV) loan book portfolio.

"Resonating with IREDA’s motto of 'Energy for Ever', the funds secured shall be utilized to elevate our competency in promptly meeting the financing requirements for EV buyers," Paisalo Digital Deputy Managing Director, Santanu Agarwal, said on Tuesday.

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