Roadcast Partners with Mufin Green Finance to Revolutionize India’s EV Market
Roadcast, a leading SaaS-based logistics automation platform in India, has announced a strategic partnership with Mufin Green Finance, India’s first listed NBFC focused on electric vehicle (EV) financing.
In this collaboration, Mufin Green Finance will lease electric three-wheelers (E3Ws) equipped with Roadcast’s advanced GPS technology. This integration of IoT systems into the leased E3Ws is set to transform the EV market in India.
With Roadcast’s technology embedded in the E3Ws, Mufin will gain remote access to monitor vehicle usage patterns. By analyzing this data, Mufin can identify underutilized vehicles, reducing the risk of lease defaults.
The adoption of Roadcast’s GPS device is a significant innovation, particularly for faster fund deployment in Non-Banking Financial Companies (NBFCs). Timely recovery of funds is crucial in lease agreements, and this predictive insight allows proactive risk mitigation before issues arise.
“We are a tech-first company, and with the increasing adoption of electric vehicles, we want to be at the forefront of this green revolution. By partnering with Mufin, we are increasing public access to high-tech, connected EVs. Each E3W leased by Mufin will be equipped with Roadcast’s IoT technology, helping them mitigate risks,”
said Vishal Jain, co-founder of Roadcast.
This partnership is especially significant for financiers rapidly scaling up in the EV leasing sector. These companies are investing heavily to make EV leasing accessible and straightforward. However, managing risks effectively is crucial. Roadcast’s technology enables financiers to predict and identify non-performing assets and potential defaulters, providing valuable insights into the performance of original equipment manufacturers (OEMs) and helping financiers make informed decisions.
“With Roadcast’s platform, we can identify vehicles at risk of default early on. This allows us to intervene effectively, whether through renegotiating terms or reallocating resources. This minimizes potential losses and streamlines our fund deployment process. These insights help our decision-making, enabling us to scale operations rapidly while managing risks effectively. Roadcast’s technology helps us navigate the complexities of NBFC operations more efficiently,”
said Kapil Garg, Co-Founder and MD at Mufin Green Finance.
This strategic partnership with Mufin Green Finance aims to make electric vehicle leasing more efficient, connected, and financially viable for all stakeholders involved.
