Ecofy - About the company
Ecofy is a series B company based in Mumbai (India), founded in 2022 by Govind Sankaranarayanan. It operates as a Financial solutions for the electric vehicle, solar, and SME sectors. Ecofy has raised $65.5M in funding from Finnfund and British International Investment, with a current valuation of $*****. The company has 30 active competitors, including 18 funded and 1 that has exited. Its top competitors include companies like Solfin, CreditWise Capital and Aerem.
Company Details
Financial solutions for the electric vehicle, solar, and SME sectors. It offers funding for the full life-cycle of electric two- and three-wheelers. It provides financial products for rooftop solar installations. It offers solutions for purchasing electric scooters and bikes, featuring flexible EMIs, customizable loan tenures, digital application processes, and value-added services such as annual maintenance contracts and asset buyback options.
- Website
- www.ecofy.co.in/
- Social
- Email ID
- *****@ecofy.co.in
- Phone Number
- +91 **********
- Registered Address
- Level 12, Birla Aurora, Dr. Annie Besant Road, Worli, Mumbai City, Mumbai, Maharashtra, India, 400030
Key Metrics
Founded Year
2022
Location
Mumbai, India
Stage
Series B
Total Funding
$65.5M in 4 rounds
Latest Funding Round
Post Money Valuation
$***** as on Mar 30, 2026
Ranked
1st among 30 active competitors
Annual Revenue
₹100 - ₹500 Cr as on Mar 31, 2025
Employee Count
283 as on Aug 31, 2025
Investment & Acquisitions
Legal entities associated with Ecofy
Ecofy is associated with 1 legal entity given below:
Legal Entity Name | Date of Incorporation | Revenue | Latest Employee Count | Documents |
|---|---|---|---|---|
ECOFY FINANCE PRIVATE LIMITED CIN: U65990MH2022PTC378560 , India, Active | Mar 17, 2022 | ₹100 - ₹500 Cr (As on Mar 31, 2025) | 283 (As on Aug 01, 2025) |
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Ecofy's funding and investors
Ecofy has raised a total funding of $65.5M over 4 rounds. Its first funding round was on Jan 12, 2024. Its latest funding round was a Conventional Debt round on May 06, 2026 for $*****. 1 investor participated in its latest round. Ecofy has 6 institutional investors.
Here is the list of recent funding rounds of Ecofy:
Filter this list
Filter this listDate of Funding | Funding Amount | Round Name | Post-Money Valuation | Revenue Multiple | Lead Investors | Other Investors |
|---|---|---|---|---|---|---|
May 06, 2026 | 5533148 | Conventional Debt | 8389685 | 6610735 | 5882267 | 2663099 |
Mar 16, 2026 | 2547408 | Series B | 4904114 | 8027240 | 7973707 | |
Mar 25, 2025 | 3151916 | Conventional Debt | 1161815 | 6503323 | 5030750 |
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Ecofy's founders and board of directors
Founder? Claim ProfileThe founders of Ecofy is Govind Sankaranarayanan.
Here are the details of Ecofy's key team members:
- Govind Sankaranarayanan: Co-Founder & COO of Ecofy. They are also an angel investor in 1 startup and serve on the boards of 4 companies.Contact Info: 1 email address and 1 phone number
Ecofy's Board of Directors
Ecofy's board has 5 active members. Govind Sankaranarayanan and Rajashree Nambiar are part of team and Rohit Sharad Talwalkar, Arun Kumar Sharma and Pankaj Thapar are independent board members.Here is the list of Ecofy's board of directors:
Name | Type | Representing | Status | Duration |
|---|---|---|---|---|
Team | - | Current | 4y 5m | |
lwvwoue | Team | - | Past | 9y 8m |
Independent board member | - | Current | 3y 0m | |
ulscobq | Independent board member | - | Current | 5y 4m |
mznllbe | Independent board member | - | Past | 2y 2m |
View details of Ecofy's Founder profiles and Board Members
Ecofy's employee count trend
Ecofy has 283 employees as of Aug 25. The total employee count is 38.0% more than what it was in Aug 24. Here is Ecofy's employee count trend over the years:
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Ecofy's Competitors and alternates
Top competitors of Ecofy include Solfin, CreditWise Capital and Aerem. Here is the list of Top 10 competitors of Ecofy, ranked by Tracxn score:
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Rank | Company Details | Short Description | Total Funding | Investors | Tracxn Score |
|---|---|---|---|---|---|
1st | Financial solutions for the electric vehicle, solar, and SME sectors | $65.5M | 75/100 | ||
2nd | Provider of SME loans for solar projects | $54.6M | 68/100 | ||
3rd |  CreditWise Capital 2018, Mumbai (India), Series A | Provider of technology driven consumer finance and vehicle insurance products | $36.4M | 67/100 | |
4th | Solar fintech platform providing rooftop solar financing | $36.2M | 66/100 | ||
5th | Digital lending platform providing loans for electric vehicle drivers | $34.8M | 62/100 | ||
6th |  Credit Fair 2018, Mumbai (India), Acquired | Platform offering solar financing solutions | $26.8M | 60/100 | |
7th |  Ascend Capital 2018, Jaipur (India), Series A | Platform offering alternative financing solutions for electric vehicles | $6.02M | 57/100 | |
8th |  Two Point O Capital 2024, Mumbai (India), Seed | Provider of financing solutions for energy transition projects and businesses | $6.3M | 56/100 | |
9th | Driver-centric platform offering battery swapping and charging solutions for electric vehicles | $12M | 56/100 | ||
10th | VidyutTech 2021, Bengaluru (India), Series A | Provider of platform offering electric vehicles financing | $20M | 55/100 |
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Ecofy's Latest cap tables and shareholding
Founders own 0.58%, Funds (largest shareholder) own 54.63%, Parent Entities own 39.75% and Other People own 0.00%. The net worth of Ecofy's founders is INR 6.06Cr as of Mar 30, 2026.
Shareholders Name | Post Round Holding % | Net worth | Cumulative Investment | Realised Returns | Unrealised Returns | Return Multiple |
|---|---|---|---|---|---|---|
Founder | 0.58% | 6.06Cr | 0 | 0 | 0 | 0 |
0 | 0 | 0 | 0 | 0 | 0 | |
Fund | 54.63% | 567Cr | 1868366 | 2403695 | 9984316 | 6438107 |
7735684 | 8942724 | 4627295 | 9265310 | 9099679 | 2304702 | |
9775043 | 5456743 | 2669845 | 1198483 | 2915798 | 1145860 | |
2221551 | 8966153 | 5072329 | 1858163 | 6456801 | 6058887 | |
Parent Entity | 39.75% | 413Cr | 2140637 | 5856581 | 7161128 | 4503115 |
Other People | 0.00% | 11 | 0 | 0 | 0 | 0 |
ESOP Pool | 5.04% | 52.3Cr | 29241 | 72977 | 84092 | 31876 |
Total | 100.00% | 1,040Cr | 8248295 | 5955044 | 1475713 | 9515886 |
To unlock detailed Cap Table of Ecofy Sign up today!Notes: The column Net Worth represents the net worth of investments made by that entity, as per the latest cap table.
DisclaimerView more details of Ecofy's Shareholding
Ecofy's Investments and acquisitions
Ecofy has acquired Autovert. Ecofy has not made any investments as of now.Reports related to Ecofy
Here is the latest report on Ecofy's sector:
News related to Ecofy
Filter this listMedia has covered Ecofy for a total of 12 events in the last 1 year, 4 of them have been about company updates and 1 about partnerships.
•
Ecofy Secures $15 Million Funding from Mirova to Expand Green Financing Portfolio in IndiaViestories•May 07, 2026•Mirova, , Ecofy
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Deal count plunges 54% in Q1, 2026 as investors pivot to fewer, larger betsFinancial Express•Apr 28, 2026•Weaver, Ecofy
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Indian fintech funding holds steady at $513 mn in Q1 2026; deal volume halvesThe Pioneer•Apr 28, 2026•Weaver, Ecofy, Easy Home Finance
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Early-stage funding value ticks up 46%, but numbers decreaseIndiatimes•Mar 31, 2026•Saarathi Finance, Ecofy, Snapmint
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Finnfund Digital Access Impact Fund I invests in Ecofy.Cision•Mar 16, 2026•British International Investment, Ecofy, EverSource Capital, Finnfund and 1 other
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Ecofy to raise Rs 380 Cr led by British International InvestmentStartupNews•Mar 09, 2026•British International Investment, Ecofy, Green Climate Fund, Finnfund and 2 others
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Ecofy partners with Ather Energy to accelerate EV adoption in IndiaMedia Bulletins•Feb 12, 2026•Ecofy, Ather Energy
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