Our Equity
For Equity
In the World

Investment Thesis

Elevar Equity fuels the economic resilience and vibrancy of underserved customers and Entrepreneurial Households, and the communities they live in. We do this by investing early growth capital in entrepreneurs building at the intersection of inclusivity, affordability and massive scale.

Invested 2024

Established in 2023, TapFin is a pioneering technology-led full-stack Sustainability Platform. It offers financing solutions and value-added services for MSMEs, startups, dealerships, and other stakeholders to address and bridge the inherent gaps between demand and supply. The initial emphasis is on integrated solutions within Clean Mobility and as the company grows, TapFin envisions broadening into other verticals of Sustainability like Solar and Renewable Energy technologies.

The Sustainability ecosystem is going to see unprecedented growth, driven by demand from the private sector and a push for adoption by the Government. TapFin aims to lead India’s Clean Mobility industry, targeting metros and Tier 2/3 cities that will contribute to the rapid expansion of the Sustainability ecosystem. The company seeks to create employment and income generation opportunities, particularly for MSMEs and startups. Given the MSME sector in India is facing a $1.5 trillion debt demand1, TapFin’s full-stack Sustainability Platform platform addresses this through financing opportunities, insurance, demand aggregation, and assistance with OEM selection. This approach caters to the diverse needs of the Sustainability ecosystem participants and promotes inclusive economic growth. 

Looking ahead, TapFin aspires to be India’s leading Sustainability Platform, contributing to the country’s growth and climate goals. The founding team possesses over 60 years of experience in financial services, sustainability, electric mobility, technology, retail distribution, and risk management across leading new-age and global organizations. Their complementary expertise positions them to drive TapFin’s growth and fuel the economic resilience and aspirations of Entrepreneurial Households in India’s expanding Sustainability sector – vital to the nation’s economic progress.

1Source: MSME Lending Report, April 2023

Invested 2022

CureBay is a digital healthcare platform that aims to transform the patient experience in remote locations of India by providing affordable and high-quality primary healthcare through a hybrid model – a network of physical eClinics, powered by a robust technology platform. CureBay has built a powerful suite of services that have hitherto been beyond the reach of most rural Indians. 

Access to quality primary healthcare in close proximity and at affordable prices is a pronounced pain point for most of rural India. This customer spends a significant portion of total household income on healthcare. Costs can skyrocket during a crisis and there is no safety net as insurance penetration is less than 1% in rural India. The customer is averse to traveling for treatment in urban areas owing to the resultant loss of income, and often postpones doctor visits for as long as possible. Delays in diagnosis and subsequent treatment worsen health outcomes and make treatments even more expensive. 

CureBay’s healthcare fulfillment model brings holistic patient care and convenience to rural patients’ doorsteps by enabling doctor consultation, and facilitating medicine purchase and pathology tests in the eClinic. Patients also have access to a network of certified partner labs as well as hospitals.

Invested 2017

Nuvemshop allows micro, small and medium enterprises (MSMEs) in Latin America to access new sale channels by enabling the setup, management, and promotion of their online business easily and from any device, thus increasing their productivity and sales.

MSMEs in Argentina and Brazil account for >99% of enterprises and >64% of employment, and are concentrated in the commerce and services sectors.


Nuvemshop – accelerating the digital transformation of MSMEs in Latin America