Manba Finance Ltd, a non-banking financial company (NBFC), has entered a strategic partnership with Piaggio Vehicles Pvt Ltd (PVPL), a subsidiary of Italy’s Piaggio Group and a leader in small commercial vehicles. This collaboration aims to provide customized financing solutions for three-wheeler (3W) customers across India, focusing on affordability, convenience, and accessibility.
The partnership includes competitive interest rates, low down payment options, and loan tenures of up to four years, benefiting both internal combustion engine (ICE) and electric vehicle (EV) customers. Special provisions have been made for women entrepreneurs, emphasizing inclusivity and empowerment within the growing 3W segment.
The agreement was formalized by Monil Shah, Chief Business Officer and Director at Manba Finance, and Diego Graffi, Chairman and Managing Director at Piaggio Vehicles Pvt Ltd. The partnership will feature a central coordination team responsible for product structuring, interest rate optimization, and streamlined digital processes to enhance customer experience.
This collaboration coincides with the record sales of electric 3Ws in India, which reached 65,700 units in October 2024, reflecting rising demand for sustainable mobility solutions. The initiative underscores Manba Finance’s commitment to supporting India’s transition to electric vehicles and fostering entrepreneurship.
Monil Shah expressed enthusiasm for the partnership, stating, “Collaborating with Piaggio, a trusted brand in the three-wheeler industry, strengthens our presence in this segment while enabling us to deliver seamless digital lending solutions to customers.”
