Ecofy secures $15 million debt from Mirova
07 May 2026, 11:22 AMThe Mumbai-based NBFC will use the fresh capital to support onward lending and finance residential and commercial & industrial (C&I) rooftop solar installations.
Share the story on
Ecofy, a non-banking financial company (NBFC) focused on climate change solutions, has secured $15 million in debt funding from Mirova, a global asset management firm dedicated to sustainable investing.
The Mumbai-based NBFC will use the fresh capital to support onward lending and finance residential and commercial & industrial (C&I) rooftop solar installations, as well as electric mobility solutions across India.
Ecofy was co-founded in 2022 by Rajashree Nambiar and Govind Sankaranarayanan. Nambiar, who serves as CEO, brings decades of experience in financial services, having previously served as MD & CEO of Fullerton India. Sankaranarayanan, the Executive Chairman, is a financial services professional with prior stints at Fullerton India and Citibank.
The company provides financing for economically sustainable climate initiatives, including electric vehicles (EVs), rooftop solar systems, energy-efficient equipment, energy storage, e-mobility, waste recycling, and water management.
Ecofy claims to have scaled to over 130,000 customers, with a pan-India presence across 26 states and more than 500 cities. The company has grown its assets under management (AUM) to over Rs 1,400 crore, backed by partnerships with more than 100 OEMs and over 23 banks and financial institutions.
Earlier , Ecofy had raised Rs 380.5 crore (approximately $42 million) in a Series B equity round co-led by British International Investment and Finnfund in March 2025. Prior to that, it had raised Rs 90 crore from FMO, the Dutch Entrepreneurial Development Bank, in January 2024.
Who Reads Us
“I enjoy reading The Head and Tale for their coverage on the Fintech landscape. The reporting is incisive and honest, and it demonstrates a sharp understanding of the industry and the issues that concern it. I'd like to extend my best wishes to Arti for her continued success.”
“Well-researched, informative and analysis based reporting makes an interesting read. 'The Head and Tale' news portal has been demonstrating this quite well covering fintech and emerging tech sectors. Their timely updates, exclusive stories and different perspectives on these sectors help me stay informed. Kudos to Arti Singh for pursuing her passion and best wishes to the team.”
“The Head and Tale stands out for its deep industry knowledge and impressive network of sources. I especially appreciate that the reporting remains independent, rarely resorting to paid puff pieces, making it a publication I can genuinely trust. Having followed Arti’s work for years, I’ve come to rely on The Head and Tale for its unparalleled insight and truly independent coverage. Arti’s long-standing presence in the sector means her reporting is always informed, with access few can match.”
“What I really appreciate about The Head and Tale is that it doesn’t just report the news, it interprets it. The stories are well-researched, comprehensive, and bold. Arti brings a fearless lens to reporting, often asking the uncomfortable but necessary questions. She makes you pause, reflect, and rethink what it all means for the payments and fintech ecosystem. It’s rare to find journalism that’s this sharp, timely, and relevant to the work we do every day.”
“I’ve always valued journalism that goes beyond surface-level headlines. The Head and Tale does exactly that - it connects the dots, asks the tough questions, and brings clarity to the shifts shaping our evolving industry. I’ve even encouraged my team members to subscribe, because staying informed through credible, deeply reported stories is as important as building products. For me, The Head and Tale has become part of essential reading.”
