Dugar Finance Secures USD 3 Mn to Expand EV and Rooftop Solar Financing The fresh funds will be deployed to scale Dugar Finance's electric vehicle (EV) and rooftop solar financing initiatives across tier-II and tier-III cities in India.
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Dugar Finance and Investments Limited has secured USD 3 million in debt funding from Swiss-based Symbiotics Investments, through its USD 75-million Green Basket Bond backed by British International Investment (BII).
The funds will be deployed to scale Dugar Finance's electric vehicle (EV) and rooftop solar financing initiatives across tier-II and tier-III cities in India.
Founded in 1987 in Chennai by Ramesh Dugar and Sonali Dugar, Dugar Finance is a Reserve Bank of India-registered Non-Banking Financial Company (NBFC). It offers vehicle financing, mortgage loans, loans against property (LAP) for SMEs, and specialised green financing products.
With over 30 branches across six states, the company focuses on underserved, credit-invisible populations—having served more than 25,000 customers to date.
"This capital infusion is more than just a financial commitment—it's a strong endorsement of our efforts to drive clean energy access and uplift small businesses at the grassroots level," said Ramesh Dugar, Founder and Managing Director. "With the support of Symbiotics and BII, we are better equipped to scale our EV and rooftop solar financing solutions across India's heartland—where such innovations are both needed and transformative."
Dugar Finance claims to have already enabled over 1,200 customers to install rooftop solar systems and adopt EVs, resulting in nearly 3,000 tonnes of carbon emissions avoided and annual electricity cost savings of INR 2.96 crore. Its customer-centric approach supports residential households, MSMEs, and housing societies, empowering them to embrace cleaner energy and mobility solutions.
With this latest funding, Dugar Finance aims to deepen its mission of combining financial inclusion with sustainability, helping India transition toward a greener and more equitable economy.
