Mumbai: Solfin Sustainable Finance has raised ₹280 crore in a recently closed funding round and has also turned profitable within its first full year of operations, marking a rare achievement for an early-stage NBFC.
The development underscores the growing structural demand shaping how India finances its clean-energy future.
The latest milestone positions Solfin Sustainable Finance at the centre of India’s rapidly evolving energy-transition ecosystem, as the country accelerates efforts to expand renewable-energy capacity and reduce dependence on fossil fuels.
Founded with the belief that India’s transition away from fossil fuels will become one of the defining economic transformations of the coming decades, Solfin Sustainable Finance aims to make clean energy the default choice for Indian households, businesses, and communities by reducing the financial barriers that continue to slow adoption.
India has committed to achieving 500 GW of non-fossil fuel capacity by 2030 and net-zero emissions by 2070.
At the same time, rooftop solar economics have crossed grid parity in most states, while schemes such as the PM Surya Ghar Muft Bijli Yojana have expanded the addressable market by bringing millions of households into the clean-energy ecosystem.
In addition, rising commercial electricity tariffs are pushing businesses to seek long-term energy-cost stability through renewable-energy adoption. As policy support, economics, and consumer demand converge, distributed solar has emerged as a central pillar of India’s multi-decade clean-energy growth story.
According to the company, the challenge is no longer technology adoption or consumer willingness, but access to fast and well-priced financing supported by trusted execution networks.
Also Read: Ecofy Secures $15 Million from Mirova to Scale Rooftop Solar and E-Mobility Financing
Solfin Sustainable Finance has positioned itself to address this gap through its proprietary underwriting engine and digital-first operating model.
The company said its technology-driven financing approach has reduced residential loan approvals from weeks to days, while also bringing complex commercial and industrial financing turnaround times down to single-digit timelines without compromising portfolio quality.
Its distribution network, built through partnerships with EPCs, dealers, OEMs, and manufacturers including Waaree Energies, has expanded to over 1,200 partners.
This network has enabled Solfin Sustainable Finance to extend clean-energy financing access deeper into Tier 2 and Tier 3 markets across India.
“India’s energy transition is the largest infrastructure opportunity of our generation, but it will only move at the speed of its financing,” said Gautam Kaushik and Pramod Mahanta, Co-Founders of Solfin.
“We built Solfin to remove the friction from that financing so that a homeowner in a Tier 3 town, a factory owner in an industrial cluster, and a national EPC can all access capital on the same fast, transparent, technology-led terms.”
The newly raised capital will be used by Solfin Sustainable Finance to strengthen investments in AI-driven credit models, portfolio monitoring systems, and collections infrastructure.
The company also plans to expand geographically into underpenetrated states, introduce new green-financing products, and enter adjacent customer segments.
Also Read: SERC InSolare MoU Signed for Testing and Validation of Renewable Energy Systems
About Solfin
Founded in December 2022 by former American Express executives Gautam Kaushik and Pramod Mahanta, Solfin Sustainable Finance operates as a distributed green-asset delivery and financing platform with a captive NBFC focused on accelerating clean-energy adoption across India.
The company is backed by Waaree Sustainable Finance Pvt. Ltd., which is part of one of India’s leading renewable-energy groups.
