Two-wheeler Financing Platform Drivio Raises $1 Mn In Seed Funding The funds were raised from Karini Ventures and Vansun Capital

Drivio, a digital-first omnichannel two-wheeler financing platform in the making, has raised $1 million in its seed funding round from Karini Ventures and Vansun Capital.

The company was co-founded by Saurabh Tripathi and Ankur Bhardwaj and is headquartered in Gurugram. Drivio is resolved to disrupt the existing two-wheeler finance market by offering an innovative tech-based financing service to avail quick and hassle-free loans within a few clicks, said a statement.

"Seeing the increasing use of technology in every field it is evident that fintech is the present and future of the banking and financing sector. Fintech start-ups like Drivio are evolving and set to play a larger role in the sector with the innovation they have to offer. We liked the concept of supporting two-wheeler buyers with an easy and quick financing solution by Drivio. We look forward to working closely with Drivio to challenge the existing norms of the two wheeler finance market in India," said a spokesperson of Karini Ventures.

"Drivio aims to solve the financing problems that two-wheeler buyers face in the country. Funding support from Karini Ventures and Vansun Capital will further strengthen our vision and help us to build a robust platform to reach out to the maximum number of potential two-wheeler buyers and offer them the best financing services and loan options. We plan to utilize the funds to further enhance the product and expand the services across the country," said Saurabh Tripathi, co-founder and CEO, Drivio.

Drivio operates in a promising finance market for two-wheelers, which are expected to grow at a CAGR of 26 per cent to reach INR 2 lakh crore by end of FY27; in these encouraging circumstances, the company is expecting to clock over INR 100 crore in two-wheeler loans in the next 12 months, added the statement.