Metafin, a solar financing platform focused on rural MSMEs and households, has secured a $10 million structured debt facility from Lendable.
The capital will be used to expand financing for solar energy solutions across rural India, particularly for small businesses and households transitioning from diesel-based systems.
The facility has been extended through Lendable's Transportation and Energy Fund and will support financing for productive-use solar systems for MSMEs and enterprises in underserved regions.
Founded by Sandeep Chopra and Aditya Shah, Metafin operates a solar financing model integrated with a network of over 1,000 local installers and a servicing arm for deployment and maintenance.
The company claims to have financed over 6,500 solar projects across more than 4,000 villages in five states. These projects have helped offset over 30 million kilograms of CO₂ emissions and displaced around 11 million litres of diesel.
Metafin is backed by investors including Vertex Ventures SEAI, Prime Venture Partners, and Varanium Capital, and works with financial institutions such as SBI, Northern Arc, and AU Small Finance Bank.