BluSmart secures Rs 100 crore financing under asset leasing initiative

Electric ride-hailing and charging infrastructure provider BluSmart announced on Tuesday that it has secured Rs 100 crore in electric vehicle (EV) financing under its ‘Assure by BluSmart’ asset leasing initiative.

Key Highlights:

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  • Under the Assure by BluSmart program, partners can purchase electric cars and lease them to BluSmart.
  • The initiative has achieved Rs 100 crore in book value within its first year, reflecting a 10x growth in monthly financing scale.
  • The program has successfully onboarded 25+ large partners including green financing institutions, transport and logistics operators, and family offices.
  • This financing has enabled BluSmart to diversify its fleet with more premium electric vehicles.

Strategic Growth:

Anmol Jaggi, Co-founder of BluSmart, said:

“The success of Assure by BluSmart demonstrates the strong appetite for sustainable investment opportunities in India, and the response to the initiative in its first year by our investors has been reassuring.”

BluSmart’s innovative leasing initiative highlights its growing role in India’s EV ecosystem, promoting sustainable transportation while attracting significant support from investors and institutions.