Ecofy Raises $42 Million Equity to Expand Retail Clean Energy Financing

Ecofy, a green non-banking financial company backed by Eversource Capital, has successfully raised $42 million in fresh equity capital, marking a significant step in scaling its retail-focused green finance platform.

The funding round saw participation from new investors including British International Investment (BII) and Finnfund Digital Access Impact Fund I managed by Finnfund. Existing investors such as Eversource Capital and FMO also reaffirmed their commitment to the company.

The newly raised capital will support Ecofy’s expansion across rooftop solar, electric vehicles (EVs), and SME financing, backed by a strengthened balance sheet, robust governance, and a technology-driven operating model.

Founded with a focus on green finance, Ecofy has, within three years, built a retail-oriented platform serving over 1.2 lakh customers across sustainable asset categories. The company has established partnerships with more than 100 OEMs and over 23 banks and financial institutions, enabling wider access to clean energy solutions.

Rajashree Nambiar, Co-founder, Managing Director and CEO of Ecofy, said the company’s growth is rooted in the belief that India’s green transition will be driven by individuals, households, and small businesses. She added that the fresh capital will help deepen product offerings, expand distribution, and strengthen Ecofy’s green lending franchise.

Dhanpal Jhaveri, Vice Chairman of Everstone Group and CEO of Eversource Capital, noted that Ecofy represents a category-defining sustainable platform and that the latest investment positions the company for scalable and profitable growth.

Investors highlighted Ecofy’s role in accelerating India’s clean energy transition by improving access to climate solutions such as rooftop solar and electric mobility, while delivering commercially viable and impact-driven returns.

With this funding, Ecofy is expected to further strengthen its position in India’s emerging green finance ecosystem, supporting sustainable growth and contributing to the country’s broader climate and decarbonisation goals.