India ranks among the world’s top renewable energy producers, and a local company that recently secured funding plans to expand those efforts even further. Gurugram-based Metafin secured $10 million in a Series A raise led by Vertex Ventures Southeast Asia, according to reporting by Entrackr. This latest funding follows a $5 million Pre-Series A round and a $600,000 seed round.
Metafin provides rural communities and small businesses throughout India with financial solutions for solar power systems. The company aims to make renewable energy more affordable for businesses that rely on diesel and lack access to the renewable grid. In addition to providing financial solutions, Metafin partners with local installers and has completed over 2,600 solar project installations to date.
With the new funding, Metafin plans to expand into multiple new states, the Entrackr story shows, and it will grow its business and leadership to support completion 10,000 solar installations. The company aims to complete 1 million solar projects by 2030.
