Solar finance NBFC firm Solfin raises Rs 280 crore, turns profitble in its first year of operations

Solfin Sustainable Finance, a non-banking financial company focused on clean energy lending, has raised Rs 280 crore in a recently closed funding round.

The company also claims to have turned profitable within its first full year of operations.

Co-founded by Gautam Kaushik and Pramod Mahanta, Solfin aims to provide dedicated financing for India's transition away from fossil fuels, particularly for rooftop solar installations across residential, commercial, and industrial segments.

It has built a proprietary underwriting engine and a digital-first operating model that has reduced the time taken to approve residential solar loans from several weeks to a few days. For commercial and industrial customers, which involve larger and more complex loan structures, turnaround times have been brought down to single-digit days as well.

On the distribution side, Solfin has built a partner network of more than 1,200 engineering, procurement, and construction companies, dealers, original equipment manufacturers, and solar manufacturers.

"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," said Gautam Kaushik and Pramod Mahanta, Co-Founders of Solfin.

Solfin said it will use the raised capital to invest further in AI-driven credit models, portfolio monitoring, and collections capabilities. It also intends to expand geographically into states where clean energy financing penetration remains low, introduce new green financing products, and enter adjacent customer segments beyond its current focus areas.