Mufin Green Finance Limited, a BSE-listed non-banking financial company, has secured USD 12 million in long-term debt from Finnfund, Finland’s development finance institution, to strengthen its green and mediclaim financing portfolio.

The capital will be used to expand Mufin Green Finance’s lending activities across electric vehicle, solar, and health insurance premium financing segments. Around 75 percent of the funds are planned for deployment in electric mobility and solar financing, supporting India’s clean energy transition, while the remaining 25 percent will be allocated to mediclaim premium financing to improve access to health insurance coverage.

According to the company, the transaction is aimed at enhancing funding diversification and enabling longer-tenure lending without equity dilution. Access to long-term, dollar-denominated capital is expected to support financing requirements of climate-linked assets such as electric vehicles and solar projects, which typically require extended repayment periods.

Kapil Garg, Managing Director of Mufin Green Finance Limited, said, “This funding from Finnfund supports our strategic focus on scaling climate-linked and inclusive financing in a measured and sustainable way. It enables us to deepen our presence in electric vehicle and solar lending while expanding access to insurance premium financing for underserved segments.”

Gunjan Jain, Chief Financial Officer of Mufin Green Finance Limited, noted, “The ECB structure provides long-tenure, predictable capital that strengthens asset–liability alignment across our portfolio and supports a mix of long-duration green assets and shorter-cycle insurance financing.”

As of September, Mufin Green Finance reported assets under management of about INR 1,150 crore. The company expects the latest funding to support further scaling of its loan book across priority green and social financing segments while maintaining a disciplined approach to risk management.

The transaction follows a lender–borrower structure under agreed terms related to interest rate, tenure, and repayment schedule. The company said the funding does not involve any equity dilution and allows deployment across eligible green and social financing activities.

Founded in 2016 by Kapil Garg, Mufin Green Finance focuses on financing solutions in electric mobility, renewable energy, and insurance premium financing, with an emphasis on sustainable mobility, clean energy access, and financial protection for underserved borrowers across India.