Sustainability platform TapFin, which focuses on providing a variety of services including financing and insurance to startups and micro, small, and medium enterprises (MSMEs) within the sustainability ecosystem, has secured $4 million in a seed funding round led by Elevar Equity. The Mumbai-based company plans to utilise the freshly acquired capital to fuel its growth initiatives, expand its market reach, and enhance its technological capabilities by attracting top-tier talent across various domains.
Founded in 2023 by Terniza Berry, Aditya Singh, and Pramod Marar, TapFin, in addition to facilitating financing and insurance opportunities for companies in the sustainability space, also aims to create an ecosystem among these companies to offer services such as demand aggregation, market linkages, and other value-added services.
Currently focusing on the clean mobility sector, TapFin aims to gradually diversify into other verticals such as solar energy and other renewable technologies, the company said.
Presently operational in key metropolitan areas like Mumbai, Delhi national capital region (NCR), and Bangalore, TapFin intends to utilise the infusion of capital to expand its presence into tier 2 and tier 3 cities across India, Berry added.
“We see immense potential in TapFin’s goal to become India’s leading technology-led Sustainability Platform, offering a range of value-added services…Our investment aligns with Elevar’s goal to focus on the entrepreneurial potential of underserved customers and households and the communities they live in,” Sandeep Farias, founder and managing partner of Elevar Equity said.
