India’s electric vehicle market is growing rapidly, but access to affordable financing remains an important part of EV adoption. Finayo is a fintech company working in this space by using technology to connect lenders with electric vehicle customers, retailers and original equipment manufacturers.
Founded in 2020, Finayo has developed an AI-powered platform focused on making EV financing more digital and efficient. The company operates at the intersection of fintech, lending technology and electric mobility.
What Is Finayo?
Finayo is a Delhi-NCR based fintech company focused on EV financing and digital lending technology. Its platform is designed to help financial institutions and EV businesses manage loan applications, borrower information and financing offers through technology.
The company’s platform includes digital loan applications, non-traditional underwriting, digital EMI collection and borrower and EV asset management. Finayo also focuses on making financing more accessible in Tier 2 and Tier 3 cities.
How Finayo’s Business Model Works
Finayo works as a technology layer connecting lending partners with EV retailers and OEMs.
For lending institutions, the platform can provide tools to manage borrower profiles and automate parts of the loan-processing journey. For EV retailers and their teams, Finayo provides technology that can help process applications and present financing options from multiple lenders.
This model allows Finayo to focus on lending infrastructure rather than operating simply as a traditional vehicle-finance company.
Finayo and EV Financing
EV financing is at the centre of Finayo’s business.
The company aims to make it easier for customers to access finance when purchasing electric vehicles. Its technology is also designed to support lending for areas such as EV charging infrastructure and EV-related businesses.
One of Finayo’s key technology solutions is FI-MEN, which the company describes as an AI-powered system incorporating asset assessment and lender credit-policy based recommendations. The objective is to help lenders make financing decisions more efficiently.
Who Founded Finayo?
Finayo was founded in 2020 by Brajendra Singh Tomar and Yogesh Prakash.
Brajendra Singh Tomar is the company’s Founder and CEO, while Yogesh Prakash is identified as Co-founder and CAO. Their professional backgrounds include experience across banking, financial services, lending and business development.
The combination of financial-services experience and technology has shaped Finayo’s approach to EV lending.
Finayo’s Funding and Growth
Finayo has also attracted funding to expand its EV-financing technology.
In December 2023, the company raised around ₹16 crore, or approximately $1.9 million, through a mix of debt and equity. The funding came from financial institutions and other investors and was intended to support technology development, network expansion and EV financing.
Inc42 currently reports Finayo’s total disclosed funding at more than $1.92 million across two rounds. It also reports FY25 revenue of approximately ₹61.3 lakh, compared with ₹30.5 lakh in FY24.
These figures provide a useful view of the company’s reported financial progress, although private-company data can change as new filings become available.
Finayo’s Noida Connection
Finayo has a presence in the Delhi-NCR region. Its official website lists a corporate office in Sector 63, Noida, while its registered office is listed in Gurugram.
Its Noida presence places the company within one of India’s growing technology and fintech ecosystems.
Why Finayo Is Important for EV Financing
Buying an electric vehicle is not only a mobility decision; for many customers, especially commercial users, it is also a financial decision.
A digital lending platform can help bring lenders and EV businesses closer together and reduce some of the manual steps involved in financing.
Finayo’s focus on AI-powered underwriting, digital applications and asset-related information reflects a broader shift in India’s lending industry toward technology-based credit processes.
The Future of Finayo
The future of Finayo will depend on the continued growth of India’s EV market and the availability of responsible financing.
As electric two-wheelers, three-wheelers and commercial EVs become more common, financial institutions will need better ways to evaluate borrowers and vehicle assets.
Finayo’s technology-led model gives it an opportunity to participate in this changing market by providing infrastructure for lenders and EV businesses.
Frequently Asked Questions
Finayo is a fintech company focused on EV financing and digital lending technology.
Lark Finserv is headquartered in Noida, Uttar Pradesh. Its corporate address is listed in Sector 125, Noida.
Conclusion
Finayo is building a fintech business around one of the important requirements of India’s electric mobility transition: accessible financing.
Founded by Brajendra Singh Tomar and Yogesh Prakash, the company combines lending technology, AI-powered credit tools and EV financing. Its platform connects financial institutions with EV retailers and OEMs while helping digitise different stages of the lending process.
With its focus on EV financing and digital lending infrastructure, Finayo represents an emerging segment of India’s fintech ecosystem where financial technology and electric mobility are increasingly coming together.
