Solfin Sustainable Finance Raises INR 280 Crore, Turns Profitable in First Full Year

Solfin Sustainable Finance has raised INR 280 crore in a recently closed round and turned profitable within its first full year of operations, a rare combination for an early-stage NBFC, and a signal of the structural demand now reshaping how India finances its energy future.

Solfin was founded on a single conviction: India’s shift away from fossil fuels will be one of the defining economic transitions of the next two decades, and it will not happen at scale without purpose-built financing. The company’s vision is to make clean energy the default choice for every Indian household, business and community by removing the financial friction that today slows adoption.

That vision is meeting its moment. India has committed to 500 GW of non-fossil fuel capacity by 2030 and net-zero emissions by 2070. Rooftop solar economics have crossed grid parity in most states, residential schemes such as PM Surya Ghar Muft Bijli Yojana have brought millions of households into the addressable market, and rising commercial tariffs are pushing businesses to lock in long-term energy-cost certainty.

Together, policy, economics and consumer demand are converging into a multi-decade adoption curve, with distributed solar at its centre. The constraint is no longer technology or willingness; it is access to fast, well-priced capital and a trusted network to deliver it.

This is where Solfin is built to win. Its proprietary underwriting engine and digital-first operating model have compressed residential loan approvals from weeks to days and brought complex C&I financing turnaround times down to single digits without compromising portfolio quality.

A distribution model anchored by partnerships with EPCs, dealers, OEMs and manufacturers, including Waaree Energies, has scaled the platform to more than 1,200 partners and expanded clean-energy access deep into Tier 2 and Tier 3 markets.

Gautam Kaushik and Pramod Mahanta, Co-Founders of Solfin, said, “India’s energy transition is the largest infrastructure opportunity of our generation, but it will only move at the speed of its financing. We built Solfin to remove the friction from that financing so that a homeowner in a Tier 3 town, a factory owner in an industrial cluster, and a national EPC can all access capital on the same fast, transparent, technology-led terms.”

The fresh capital will fund deeper investments in AI-driven credit models, portfolio monitoring and collections, geographic expansion into underpenetrated states, new green-financing products, and entry into adjacent customer segments.