• Notification Date: 20-02-2025
• Notification No: N/A

Credit Fair Raises $5 Million to Push Roof-Top Solar Loans in Tier-2 and Tier-3 Towns

Credit Fair, a non-banking finance company, raised $5 million debt financing in the form of Symbiotics Investments' Green Basket Bond with a total amount of $75 million. It will be used to grow its rooftop solar lending program. With the support from British International Investment (BII), the financing will help Credit Fair to tap more underserved residential and MSME clients from tier-2 and tier-3 cities.

Credit Fair will use the money to fund the increasing demand for rooftop solar installations, powering housing societies and small businesses with low-cost financing options. Credit Fair plans to raise money for funding 2,500 new rooftop solar installations, lowering carbon footprints in a big way while offering clean energy options.

Since its launch, Credit Fair has facilitated rooftop solar adoption of more than 8,000 customers, which has led to emission reductions of 4,100 tonnes and saved its customers more than Rs. 45 crore every year in electricity charges. With this, Credit Fair reaffirms its commitment to green energy adoption and sustainability.

The company has support from prominent venture capital investors like LC Nueva AIF and Capital A, along with prominent bank and NBFC sponsorships like SBI, SIDBI, and IDFC First Bank.