Metafin, a fledgling non-banking financial company (NBFC), has garnered $5 million in funding aimed at accelerating the embrace of solar energy in rural regions of India.

On Wednesday, Metafin, a non-banking financial company (NBFC) with a focus on clean technology, announced that it secured $5 million in equity funding. Prime Venture Partners and Varanium Capital led the funding round. Metafin specializes in offering loans for rooftop solar installations to micro, small, and medium enterprises (MSMEs) in semi-urban and rural areas. The company provides financing and installation services through its network of lending and installer partners. According to a press release, Metafin intends to use the funds to expand its presence across various states, increase its loan portfolio, improve its technology and Internet of Things (IoT) capabilities, and recruit key personnel.