RevFin: Accelerating EV Adoption in Bharat with AI-Powered Psychometric Underwriting

"Lending to the bottom of the pyramid isn't about looking at credit history—it's about understanding human behavior." This radical philosophy, championed by Sameer Aggarwal, founder of RevFin, is breaking the barriers of financial exclusion in India’s electric vehicle (EV) market. By using AI-driven psychometrics and biometrics, RevFin is providing loans to thousands of underserved individuals in Tier 2, 3, and 4 towns, proving that the "unbankable" are often the most reliable borrowers.

While the EV revolution is sweeping through urban India, the transition in rural heartlands (the "Bharat") often hits a financial wall. Commercial electric three-wheelers and two-wheelers are essential tools for livelihood, yet traditional lenders avoid them due to "new technology risk" and the lack of a secondary market. RevFin has stepped into this gap, building a specialized digital lending ecosystem that has financed thousands of vehicles while maintaining a staggering **NPA rate of less than 2%**.

The Journey from London Banking to Bharat Inclusion

Sameer Aggarwal’s path to founding RevFin was a blend of personal milestones and professional frustration. After a decade in the London banking industry, where he worked with subprime segments, he realized that even in developed nations, credit access for those without history was broken. The news of his wife’s first pregnancy served as the ultimate trigger: "I decided I really needed to do something different with my life."

He returned to India in 2018 with a mission to serve the segment that traditional financiers ignored. "In India, the opportunity was so much larger," Sameer explains. "96% of our customers today are from Tier 2, 3, and 4 towns in states like UP and Bihar—people who have no banking transaction data but a high intention to earn."

Building an NBFC with a "Personal Touch"

Unlike many fintechs that act as mere front-ends for external banks, RevFin took the difficult decision to launch its own **NBFC subsidiary**. Aggarwal was clear that to disrupt the market, they had to own the risk. "We didn't expect other lenders to understand how we underwrite," he notes. "By lending from our own balance sheet, we proved our methodology was superior, resulting in returns far higher than a pure-play fintech model."

RevFin balances this high-tech approach with a necessary "Personal Touch." While the initial application and underwriting happen in under 20 minutes digitally, post-approval involves deeper interactions. "We do video calls, house visits if required, and maintain monthly contact," Sameer shares. This combination of "Convenience First, Relationship Second" ensures that borrowers feel supported in their entrepreneurial journey.

Creating a "Resale" Market: The Ecosystem Play

One of the biggest hurdles in EV financing is the lack of a secondary market. If a lender repossesses a petrol vehicle, they know where to sell it. With an electric three-wheeler, that infrastructure was missing. RevFin solved this by partnering with dealers to refurbish and resell repossessed units, effectively creating its own secondary market.

Furthermore, RevFin has embedded itself into every stage of the driver’s lifecycle. From OEM partnerships that provide access to hundreds of dealerships to telematics that track vehicle health, RevFin ensures that the driver is never alone. "We had to build the ecosystem around the driver and the vehicle—service support, insurance, charging, and employment opportunities," Sameer explains.

Leadership and the "1-Minute" Challenge

Scaling a startup requires a relentless focus on process efficiency. Sameer shares a "growth hack" story about cutting the time it takes to issue a dispatch order to a dealer. What used to take seven to eight days was reduced to **just a few seconds** after he challenged his team to do it in one minute. "We spent two days re-evaluating every step and realized we just needed to shift a few things around. It wasn't about new tech; it was about reimagining the flow."

The Future: Sustainable Bharat

Looking ahead, RevFin continues to double down on its "EV calling." With the support of the Shell Foundation and a growing list of OEM partners, the mission is to generate mass employment while reducing emissions. By knocking out the "uncertainty" of EV financing through data, Sameer Aggarwal is ensuring that the transition to green energy isn't just an urban luxury, but a rural reality.

"We picked a problem, solved it innovatively, and created a huge impact," Sameer concludes. "That is the purpose of RevFin."

Key Takeaways

For Fintech Founders: Own the risk. If your underwriting model is truly innovative, traditional lenders won't understand it until you've proven it on your own balance sheet.

For EV Startups: The vehicle is only 50% of the equation. Success in Bharat depends on the 50% that is the driver's ecosystem—service, resale, and insurance.

For Aspiring Entrepreneurs: Don't wait for a perfect plan. Once you get into it with your full heart, the people around you will come together to help you succeed.

About the Guest

Sameer Aggarwal is the Founder and CEO of RevFin. A veteran of the global lending industry with over 17 years of experience, including senior roles in London banking, Sameer is a pioneer in AI-based behavioral underwriting. Under his leadership, RevFin has become India's #1 commercial EV financing platform, specifically focused on bringing financial inclusion to the unbanked segments of Bharat.