Roadcast Teams Up with Mufin Green Finance for electric vehicle financing

Key Highlights:
•    Roadcast partners with Mufin Green Finance to lease GPS-equipped electric three-wheelers (e3W).
•    IoT technology integration aims to transform India's EV sector with better vehicle monitoring.
•    Roadcast's GPS devices enable quicker fund releases and reduced lease defaults.
•    Mufin Green Finance can manage risks and make informed resource allocation decisions.
•    The partnership improves the efficiency and financial viability of EV leasing.

Roadcast, an Indian SaaS-based logistics automation platform, has announced a partnership with Mufin Green Finance, a publicly traded Non-Banking Financial Company (NBFC) that specializes in electric vehicle (EV) financing.

Mufin will have remote access to the vehicles through Roadcast's technology, allowing for close surveillance of their usage patterns. Mufin can use data analysis to discover underutilized vehicles, potentially reducing lease defaults.

Mufin Green Finance will lease out electric three-wheelers (e3W) equipped with Roadcast's GPS technology. The integration of powerful IoT technology into leased e3Ws intends to transform India's EV sector.

Timely money recovery is critical in lease agreements, and Roadcast's technology provides predictive insights that enable proactive risk reduction strategies. The integration of Roadcast's GPS device is poised to make a significant difference, particularly in expediting fund disbursements for NBFCs. 

This collaboration is important for financiers who are rapidly growing in the EV leasing sector. While working to enhance public access to EVs, they must effectively manage the related hazards. Roadcast's innovative technology predicts and identifies non-performing assets and probable payment defaulters, as well as providing insights into OEM performance to help with informed decision-making.

Vishal Jain, Co-founder of Roadcast, commented on the collaboration, saying, "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 as well. We extended public access to high-tech, connected EVs through our collaboration with Mufin. Mufin will outfit each electric three-wheeler it leases with Roadcast's IoT technology to help them manage risks."

Kapil Garg, Co-Founder and MD of Mufin Green Finance, emphasizes the benefits of this relationship, noting, "With the help of Roadcast's platform, we will now be able to identify vehicles at risk of default early on. So we may successfully act, whether by renegotiating terms or reallocating resources. This would not only reduce potential losses, but also streamline our capital deployment procedure. These insights and access will help us make better decisions, and we will be able to swiftly scale our operations and deployment knowing that we have the tools to efficiently manage risks and optimise resource allocation. Roadcast's technology will enable us to handle the complexity of NBFC operations more efficiently."

This spartnership with Mufin Green Finance intends to improve the efficiency, connection, and financial viability of electric vehicle leasing, which will benefit all stakeholders in the EV ecosystem.

Also Read: Altigreen's 5,000 EVs Cover 50 Million Kilometers, Cut 5,300 Tonnes of CO2

CMV360 Says

This partnership signifies a major step forward in the EV market, leveraging technology to optimize operations and manage financial risks effectively. 

The collaboration between Roadcast and Mufin Green Finance exemplifies how innovative solutions can drive the adoption of green transportation while ensuring economic sustainability for all parties involved.