WheelsEMI raises Rs. 100 crore in Series B funding

WheelsEMI Pvt. Ltd. has secured an investment of Rs. 100 crore from Faering Capital and Elevar Equity. 

WheelsEMI is a non-banking financial company that offers financing for new and pre-owned 2-wheelers, including electric scooters. The company also provides finance to bike renting companies and leasing of 2-wheelers. 

The company aims to be among the top three financiers in the 2-wheeler financing space in the next 5 years. In addition to quick and easy loans, WheelsEMI will also offer value added services like warranty, true price discovery of pre-owned vehicles and buy-back of leased vehicles.

WheelsEMI currently operates in 9 cities across India. The company aims to achieve a loan book size of over Rs. 110 crore by March 2019.