Three Wheels United is a global fintech company that has raised $10 million in a series of round of funding. The company is an EV financing company. The round was led by Delta Corp Holdings along with Techstars, the Middle East, Europe, and Grip Invest.
As per the sources, it came to know that the company is planning to utilize the fresh capital in the following ways:
Three Wheels United has over 50,000 drivers on its service platform. The company has financed over 4,000 auto-rickshaws, resulting in the fall of 1,72,000+ tonnes of CO2 emissions, and the generation of an extra $71 million in income for the drivers.
Three Wheels United was founded by Cedrick Tandong, Kevin Wervenbos, and Apurv Mehra in the year 2017. The company works in the direction of removing financial barriers in the adoption of e-vehicles in India-like countries, and now globally.
Three Wheels United Facilitates affordable price services for drivers so that they can easily switch from conventional vehicles to EV two or three-wheelers.
Cedrick Tandong, CEO and Co-founder, Three Wheels United, stated, “Three Wheels United was founded with a belief that technology can accelerate our efforts towards promoting sustainable last-mile connectivity. Over the last several years of working in the EV ecosystem, we have gathered deep insights into some of the barriers to mass adoption of EVs. The lack of affordable financing continues to be a key obstacle for low-income clients to switch to EVs. We have identified these challenges and we have created a scalable solution that is tailored for our clients”