Metafin's Solar Financing Surge: A $10 Million Leap Towards Clean Energy Access
April 29, 2025, 11:29 pm
In a world increasingly driven by sustainability, Metafin is making waves in the solar financing sector. The non-banking finance company (NBFC) recently secured $10 million in a Series A funding round, led by Vertex Ventures Southeast Asia and India. This funding is not just a financial boost; it’s a stepping stone toward a greener future for rural India.
Founded in 2019 by Sandeep Chopra and Aditya Shah, Metafin specializes in providing solar loans to small businesses and households. Their mission? To democratize clean energy access across the vast landscapes of rural and semi-urban India. With this latest round of funding, Metafin aims to expand its reach into Jharkhand, Chhattisgarh, Odisha, and Madhya Pradesh. The company currently operates primarily in Uttar Pradesh and Bihar, where it has financed over 3,200 solar installations across 2,700 villages.
The funding round, a mix of equity and debt, also saw participation from existing investors like Prime Venture Partners and Varanium Capital, along with financial institutions such as Northern Arc and AU Small Finance Bank. This diverse backing highlights the growing confidence in Metafin’s model and its potential for scalability.
Metafin’s approach is rooted in technology. The company employs a proprietary IoT tech stack that monitors solar plants every two seconds. This system provides real-time data on energy consumption and operational efficiency. It’s a digital lifeline that allows Metafin to manage its assets remotely, even shutting down plants if payments are missed. This innovative strategy minimizes risks and enhances the company’s ability to serve its clients effectively.
The funds raised will primarily be used for growth capital. Metafin plans to increase its project count from approximately 3,500 installations to 10,000 within the next 12 to 18 months. This ambitious goal reflects the company’s commitment to scaling its operations and enhancing its service offerings. A portion of the funds will also be allocated to strengthening the senior management team and upgrading the tech stack, ensuring that Metafin remains at the forefront of solar financing.
As of March 2025, Metafin reported an annual revenue run rate of INR 22 crore, with assets under management totaling INR 81 crore. The company has seen remarkable growth, with revenue increasing fourfold year-on-year. This financial success is a testament to the viability of solar lending in rural India. Metafin’s founders are optimistic about the future, projecting continued profitability and a tripling of revenue in the coming year.
The rural energy landscape in India is ripe for transformation. Many regions still lack reliable access to electricity, making solar energy an attractive alternative. Metafin’s focus on micro, small, and medium enterprises (MSMEs) and rural households positions it uniquely to tap into this uncharted market. By providing financing solutions tailored to the needs of these communities, Metafin is not just a lender; it’s a catalyst for change.
The company’s expansion into new states is strategic. Jharkhand, Chhattisgarh, Odisha, and Madhya Pradesh are areas with significant potential for solar energy development. These states are relatively unpenetrated, offering Metafin a chance to establish a strong foothold. The founders believe that with the right approach, they can empower one million rural solar users by 2030.
Metafin’s journey is a classic tale of innovation meeting necessity. In a country where energy access is still a challenge for many, the company’s technology-driven solutions offer a beacon of hope. The founders’ vision is clear: to create a sustainable energy ecosystem that benefits both the environment and the economy.
The recent funding round marks a pivotal moment for Metafin. It’s not just about the money; it’s about the mission. The company is poised to deepen its presence in the market, delight more customers, and move closer to its vision of a solar-powered future for rural India. The partnership with Vertex Ventures is a significant endorsement, providing Metafin with the resources and expertise needed to navigate the complexities of scaling its operations.
In conclusion, Metafin is more than a solar financing platform; it’s a movement towards energy equity. With a robust business model, a commitment to technology, and a clear vision for the future, Metafin is set to illuminate the path for countless rural households and businesses. The $10 million funding is not just a financial milestone; it’s a testament to the power of innovation in transforming lives and communities. As Metafin embarks on this exciting journey, the promise of clean energy access becomes a reality for many, one solar panel at a time.
Founded in 2019 by Sandeep Chopra and Aditya Shah, Metafin specializes in providing solar loans to small businesses and households. Their mission? To democratize clean energy access across the vast landscapes of rural and semi-urban India. With this latest round of funding, Metafin aims to expand its reach into Jharkhand, Chhattisgarh, Odisha, and Madhya Pradesh. The company currently operates primarily in Uttar Pradesh and Bihar, where it has financed over 3,200 solar installations across 2,700 villages.
The funding round, a mix of equity and debt, also saw participation from existing investors like Prime Venture Partners and Varanium Capital, along with financial institutions such as Northern Arc and AU Small Finance Bank. This diverse backing highlights the growing confidence in Metafin’s model and its potential for scalability.
Metafin’s approach is rooted in technology. The company employs a proprietary IoT tech stack that monitors solar plants every two seconds. This system provides real-time data on energy consumption and operational efficiency. It’s a digital lifeline that allows Metafin to manage its assets remotely, even shutting down plants if payments are missed. This innovative strategy minimizes risks and enhances the company’s ability to serve its clients effectively.
The funds raised will primarily be used for growth capital. Metafin plans to increase its project count from approximately 3,500 installations to 10,000 within the next 12 to 18 months. This ambitious goal reflects the company’s commitment to scaling its operations and enhancing its service offerings. A portion of the funds will also be allocated to strengthening the senior management team and upgrading the tech stack, ensuring that Metafin remains at the forefront of solar financing.
As of March 2025, Metafin reported an annual revenue run rate of INR 22 crore, with assets under management totaling INR 81 crore. The company has seen remarkable growth, with revenue increasing fourfold year-on-year. This financial success is a testament to the viability of solar lending in rural India. Metafin’s founders are optimistic about the future, projecting continued profitability and a tripling of revenue in the coming year.
The rural energy landscape in India is ripe for transformation. Many regions still lack reliable access to electricity, making solar energy an attractive alternative. Metafin’s focus on micro, small, and medium enterprises (MSMEs) and rural households positions it uniquely to tap into this uncharted market. By providing financing solutions tailored to the needs of these communities, Metafin is not just a lender; it’s a catalyst for change.
The company’s expansion into new states is strategic. Jharkhand, Chhattisgarh, Odisha, and Madhya Pradesh are areas with significant potential for solar energy development. These states are relatively unpenetrated, offering Metafin a chance to establish a strong foothold. The founders believe that with the right approach, they can empower one million rural solar users by 2030.
Metafin’s journey is a classic tale of innovation meeting necessity. In a country where energy access is still a challenge for many, the company’s technology-driven solutions offer a beacon of hope. The founders’ vision is clear: to create a sustainable energy ecosystem that benefits both the environment and the economy.
The recent funding round marks a pivotal moment for Metafin. It’s not just about the money; it’s about the mission. The company is poised to deepen its presence in the market, delight more customers, and move closer to its vision of a solar-powered future for rural India. The partnership with Vertex Ventures is a significant endorsement, providing Metafin with the resources and expertise needed to navigate the complexities of scaling its operations.
In conclusion, Metafin is more than a solar financing platform; it’s a movement towards energy equity. With a robust business model, a commitment to technology, and a clear vision for the future, Metafin is set to illuminate the path for countless rural households and businesses. The $10 million funding is not just a financial milestone; it’s a testament to the power of innovation in transforming lives and communities. As Metafin embarks on this exciting journey, the promise of clean energy access becomes a reality for many, one solar panel at a time.