Credit Fair, a non-banking financial company (NBFC), has secured $5 million in debt from a $75-million green basket bond issued by Symbiotics Investments. This funding will help Credit Fair grow its rooftop solar financing services, mainly for homes and small businesses in Tier II and III cities.
The company aims to make solar energy more affordable and accessible, reducing carbon emissions. Since 2018, Credit Fair has supported over 8,000 customers, saving Rs 45 crore in electricity costs. With this investment, it plans to fund 2,500 new solar projects, promoting clean energy adoption across underserved communities.
What is Credit Fair?
Credit Fair is a non-banking financial company (NBFC) that provides flexible and affordable financing solutions, mainly focusing on consumer loans, MSME lending, and rooftop solar financing. Founded in 2018, the Mumbai-based company aims to bridge the credit gap for underserved communities by offering easy loan options for essential services like education, healthcare, home improvement, and green energy solutions.
Recently, Credit Fair has been expanding its presence in rooftop solar financing, helping individuals, housing societies, and small businesses adopt renewable energy. The company has facilitated over 8,000 rooftop solar installations, leading to significant electricity savings and carbon emission reductions.
Why is This Funding Significant?
This funding is a significant milestone for Credit Fair and the renewable energy sector. The $5 million investment will enable the company to finance 2,500 new rooftop solar projects, making clean energy more accessible to residential and MSME customers, particularly in Tier II and III cities.
By expanding solar installations, Credit Fair is actively contributing to the reduction of carbon emissions and supporting India’s sustainability goals. The funding, secured through Symbiotics Investments’ green bond and backed by British International Investment (BII), reflects growing investor confidence in climate-focused lending.
Additionally, it strengthens Credit Fair’s commitment to financial inclusion, empowering underserved communities with affordable solar financing options. This initiative not only lowers electricity costs for consumers but also promotes long-term savings and energy security.
With this investment, Credit Fair solidifies its position in the solar financing market, building on its previous $10 million seed extension funding (2022) and driving the adoption of renewable energy solutions across the country.
How Will the Funds Be Used?
The funds will be used by Credit Fair to strengthen and expand its presence in the rooftop solar financing space. Specifically, the company plans to finance 2,500 new rooftop solar projects, targeting residential and MSME customers in Tier II and III cities, including housing societies.
The goal is to provide underserved communities with affordable and accessible financing options for adopting renewable energy solutions. This expansion will help Credit Fair drive the adoption of clean energy, reduce carbon emissions, and offer customers long-term savings on their electricity bills.
The funds will also enable the company to grow its portfolio of distributed energy solutions, supporting the broader shift towards sustainable energy practices.
Founders’ Perspective
Credit Fair was founded by Aditya Damani, the CEO, and Vikas Agarwal, the Chief Business Officer. The company’s leadership sees this funding as a crucial step toward expanding clean energy solutions.
The founders are committed to making solar energy accessible and affordable, particularly for underserved communities in Tier II and III cities. Their vision is not just about financing but about empowering customers with long-term savings and energy security.
With this funding, Credit Fair strengthens its role in India’s green energy movement, paving the way for a more sustainable future.
Join Aman Raj & Gaurav in an exclusive discussion on Evahan’s rapid growth. Watch now! 👇
Key Takeaways
- $5 Million Debt Funding – Credit Fair secured $5 million from a $75-million green basket bond issued by Symbiotics Investments and backed by British International Investment (BII).
- Expansion in Rooftop Solar Financing – The funds will be used to finance 2,500 new rooftop solar projects, targeting residential customers, MSMEs, and housing societies in Tier II and III cities.
- Commitment to Sustainability – Credit Fair aims to reduce carbon emissions and increase clean energy adoption, having already helped save Rs 45 crore in electricity costs and cut 4,100 tonnes of CO₂ emissions.
- Empowering Underserved Communities – The company focuses on financial inclusion, making solar energy more affordable and accessible to lower-income groups.
- Investor Confidence in Green Finance – The funding highlights growing investor interest in climate-focused lending, strengthening Credit Fair’s position in renewable energy financing.
Conclusion:
Credit Fair’s latest funding marks a significant step toward its growth in renewable energy financing. By expanding its rooftop solar loan portfolio, the company is not only promoting clean energy adoption but also empowering underserved communities with affordable solutions.
With a proven track record of reducing carbon emissions and electricity costs, Credit Fair is set to play a crucial role in India’s green energy transition. Moving forward, the company aims to scale its impact, attract more investments, and innovate its financial offerings to support sustainable solutions, ensuring long-term economic and environmental benefits for a cleaner, energy-efficient future.
Smart Loans for Smart Energy! Discover how Credit Fair is shaping a greener tomorrow.
