Metafin secures $10 million debt to expand rural solar access

Solar financing startup Metafin has closed a $10 million structured debt facility, with the capital earmarked for expanding solar energy access in rural India. The funding comes from Lendable’s Transportation and Energy Fund.

Focus on diesel replacement in rural markets

The Bengaluru-based platform targets small businesses and households that currently rely on diesel, enabling a transition to productive-use solar systems. Its operating model is built on a network of over 1,000 local installers, supported by an in-house servicing arm responsible for deployment and maintenance.

Co-founded by Sandeep Chopra and Aditya Shah, Metafin has financed more than 6,500 solar installations across over 4,000 villages in five states. According to the company, these deployments have displaced about 11 million litres of diesel and reduced over 30 million kilograms of CO₂ emissions.

Capital to support MSME solar adoption

The newly secured debt facility will be directed towards financing solar solutions for micro, small and medium enterprises (MSMEs) and enterprises in underserved regions, where access to conventional financing remains limited.

Metafin’s equity investors include Vertex Ventures SEAI, Prime Venture Partners, and Varanium Capital. The company also collaborates with lenders such as State Bank of India (SBI), Northern Arc Capital, and AU Small Finance Bank.

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