BluSmart secures Rs 100 crore financing under its asset leasing initiative

Electric ride-hailing and charging infrastructure network BluSmart on Tuesday said it has secured Rs 100 crore in EV financing under its asset leasing initiative.

Under the 'Assure by BluSmart' initiative, the partner can purchase electric cars and lease these cars to BluSmart.Assure has surpassed Rs 100 crore in book value.

Within the first year of launch, the program has grown exponentially, jumping 10 times in monthly scale of financing secured with 25+ large partners onboard, the company said.

The initiative has gained robust support from leading green financing institutions, transport and logistics operators, as well as family offices.BluSmart said the initiative has helped it diversify its fleet portfolio to include more premium.

"The success of Assure by BluSmart demonstrates the strong appetite for sustainable investment opportunities in India, and the response to the initiative in its first year by our investors has been reassuring," said Anmol Jaggi, Co-founder, BluSmart.