Jalandhar, April 17, 2025 – Credifin Limited, a Metropolitan Stock Exchange of India-listed Non-Banking Financial Company (NBFC) formerly known as PHF Leasing Limited, has successfully raised US$24.9 million (approximately Rs. 213.6 crore) through a mix of equity (6.7%) and debt (93.3%). Headquartered in Jalandhar with a corporate office in Delhi-NCR, the company aims to leverage these funds to support its aggressive expansion in mortgage loans and electric vehicle (EV) financing, particularly for e-rickshaws, e-loaders, and two-wheelers.
Registered with the Reserve Bank of India since 1998, Credifin is a non-deposit-accepting NBFC focused on financial inclusion. The company has seen robust growth over the past four years, expanding its footprint across 13 states and union territories, operating in over 200 locations, and employing more than 700 people. Its product portfolio includes secured MSME mortgage loans against immovable property (Loan Against Property or LAP) and financing for electric vehicles, aligning with India’s push for sustainable mobility.
The funding includes debt from existing lenders, new partnerships, and other financial instruments. New lenders onboarded include Northern Arc Capital, ESAF Small Finance Bank, ICICI Bank, Kissandhan Agri Financial Services, Electronica Finance Limited, and Maanaveeya Development & Finance. Existing lenders such as State Bank of India, AU Small Finance Bank, Cholamandalam Investment and Finance Company, and Vivriti Capital continue to support Credifin’s growth.
Shalya Gupta, CEO of Credifin Limited, expressed gratitude to the company’s stakeholders, stating, “Our existing lenders have reaffirmed their trust in our vision, while new industry leaders joining us mark a significant milestone in our journey to serve underserved communities. Our 1,700-strong dealer network and 700-member team have been instrumental in sustaining this momentum.” Gupta also highlighted the company’s digital prowess, noting that over 80% of collections are now digital, thanks to a robust IT infrastructure.
As of Q3 FY 2024-2025, Credifin reported an Assets Under Management (AUM) of Rs. 312 crore. The company is rapidly strengthening its existing offices, entering new geographies, and introducing innovative products to address the financial needs of underserved populations, reinforcing its commitment to India’s financial inclusion goals.
Incorporated in 1992, Credifin Limited is a Jalandhar-based NBFC listed on the Metropolitan Stock Exchange of India, with a corporate office in Delhi-NCR. Registered with the RBI since 1998, it specializes in secured MSME mortgage loans and EV financing, operating across 200+ locations in 13 states and union territories with a workforce of over 700.