ProsParity Charges Up with $2 Million Pre-Seed Funding

Preeti Bali / 10:32 am / May 24, 2024

ProsParity, a pioneering fintech startup focused on electric vehicle (EV) financing, has secured $2 million in a pre-seed funding round. This investment, led by a consortium of prominent global institutional investors including BEENEXT, Sparrow Capital, All In Capital, DeVC, and Huddle Ventures, will empower ProsParity to revolutionize the EV financing landscape. Additionally, the round garnered participation from notable angel investors such as Dr. Ashish Gupta (co-founder of Junglee and Helion Ventures), Raj Dugar (formerly of Eight Roads Ventures), Dhyanesh Shah (co-founder of Mosaic Wellness), Abhishek Goyal (co-founder of Tracxn), and Nitin Kaushal (co-founder of Country Delight).

Funding Fuels Growth Strategy

The infusion of capital will propel ProsParity’s strategic development across several key areas. The company plans to utilize the funds to validate its business model (proof of concept), enhance its technological infrastructure, and expand its network of origination channels, with an initial focus on central India. Furthermore, ProsParity is actively building a robust network of partnerships encompassing original equipment manufacturers (OEMs), fleet operators, dealerships, and lenders within the EV ecosystem.

Streamlining EV Financing for All Stakeholders

Founded by Saurabh Khodke and Anirudh Dhakar, ProsParity has established itself as a comprehensive end-to-end platform dedicated to EV financing. The company prioritizes compliance, scalability, and agility for lenders, while simultaneously simplifying access to financing for EV dealers and OEMs. This approach ultimately facilitates financing solutions for end-customers seeking to purchase electric vehicles.

Centralized Platform Empowers Efficient Capital Allocation

Through its innovative proprietary platform and unique origination strategy, ProsParity aims to aggregate the demand for EV financing on a single, unified platform. This centralized approach streamlines the process for lenders, enabling them to efficiently channel their capital into the burgeoning EV financing asset class. ProsParity’s vision is to play a pivotal role in accelerating the adoption of electric vehicles by bridging the gap between financing needs and available capital.


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