Yulu - a mobility as a service player has raised $9 million through debt financing from US International Development Finance Corporation (DFC). DFC proposed the investment in Yulu through its new e-mobility financing team, as a part of the institution's focus on financing clean and zero-emission transportation solutions in India, the firm said in a statement.
“This financing from a forward-looking institution as the DFC speaks about their belief in Yulu’s vision and the ability to execute at scale, to not just create a green mobility alternative but also to create livelihoods through direct and indirect employment opportunities. We are quite thrilled,” Yulu Chief Financial Officer Anuj Tewari said.
The Bengaluru-based firm backed by Bajaj Auto has plans to utilise the funds to further strengthen momentum towards its vision of enabling green last-mile mobility for people movement and goods deliveries, it said.
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