Lendingo, the latest division of Mega Corporation, is set to provide customised financial solutions for electric vehicles, specifically targeting EV batteries and rickshaws. This initiative aims to assist MSMEs and foster sustainable development within the growing electric mobility sector.
Mega Corporation Limited, a Non-Banking Financial Company (NBFC) trading on the BSE, recently unveiled Lendingo, its new division aimed at offering finance solutions for electric vehicles (EVs), including EV batteries and rickshaws, as well as associated enterprises. Lendingo’s mission is to bolster the burgeoning EV industry and foster eco-friendly innovations.
Kunal Lalani, the Managing Director of Mega Corporation Limited, expressed that Lendingo will meet the growing need for electric vehicle financing. He emphasised that Lendingo will encourage the uptake of EVs, thereby facilitating growth and new developments within the EV sector. With custom financial solutions, the division is set to aid customers transitioning to electric vehicles, thus promoting a more sustainable future.
Lendingo reflects Mega Corporation’s strategic initiative to focus on sustainable practices within the finance sector. This division is designed to make financing more accessible, helping speed up the shift towards electric mobility and affirming the company’s dedication to environmental preservation.
The new division will cater to a broad spectrum of financial needs for EV customers through loans, leases, and other financial instruments. Lendingo will also support Micro, Small, and Medium Enterprises (MSMEs) engaged in the EV industry, reinforcing Mega Corporation’s commitment to sustainable economic growth.
In line with its sustainable finance goals, Mega Corporation will ensure that Lendingo complies with environmental, social, and governance (ESG) criteria. The division will focus on projects that lower carbon emissions, enhance energy efficiency, and improve air quality.
Joydeep Dutta, EVP & Business Head at Mega Corporation, stated that Lendingo is poised to propel the company’s growth by broadening its retail lending offerings. This expansion is expected to improve the company’s profitability and market presence. As the EV market expands, Lendingo’s combination of technology-driven, personalized services, strategic partnerships, and sustainability focus will enable it to secure a substantial portion of the growing EV finance market.
