In Short : The Macquarie Group’s India-based EV leasing business, Vertelo, has successfully raised $405 million in equity capital. The goal of the financial infusion, which is supported by Macquarie and the UN Green Climate Fund, is to further accelerate India’s transition to electric mobility by strengthening Vertelo’s position in commercial fleet electrification and increasing its ability to finance EVs and build charging infrastructure.
Commercial Fleet Electrification Acceleration
Vertelo specializes on using leasing models to finance electric trucks, buses, and related charging infrastructure. Businesses and municipalities will be able to switch from internal combustion engine (ICE) cars to sustainable, renewable mobility options thanks to this new funding, which will support the spread of fleet electrification throughout India.
Vertelo’s Funding Strategy and Wider Vision
Vertelo, which was introduced in April 2024, intends to raise up to $1.5 billion in funding over ten years by combining debt and equity to support India’s fleet electrification objectives. The platform is growing with new transactions across key fleet operators and has already implemented electric buses and vehicles in Mumbai. These goals are accelerated by the recent equity raise, which also supports Vertelo’s plan for the transformation of low-carbon urban transportation.
About Vertelo (EV Leasing Platform in India)
Formerly known as Muon India Private Limited, Vertelo is an EV leasing and finance platform run by Macquarie with support from the Green Climate Fund. It provides integrated financing, fleet management, and charging infrastructure solutions with the goal of lowering the initial costs associated with commercial EV adoption. Vertelo is prepared to spearhead scalable reforms in India’s clean mobility framework thanks to its current operations, which include bus deployments in Mumbai.
