Greaves Finance Limited, a non-banking financial company (NBFC) and a wholly owned subsidiary of Greaves Cotton Limited, announces its partnership with ACKO, a tech-first insurer, to encourage seamless EV ownership in the country. Greaves Finance informs the exchange regarding partnership with ACKO on July 10.
Greaves Finance Limited (evfin) and ACKO aims to ease EV ownership and the financial burden on EV owners in cases of accidents and hospitalisations and drive new innovative EV-centric products, accelerating the adoption of sustainable mobility solutions in India.
The collaboration enables cross-selling of the offerings of ACKO on the platform evfin (Greaves’ 100% ev-focused lending platform), allowing consumers to access the most optimal insurance policies and financing options with convenience. It will also streamline the insurance scouting process for users, offering them affordable policies catered to their needs.
About Greaves India Limited
Greaves Finance Ltd., through its 100% EV‐focused lending platform ev.fin, is India’s only ev‐focused non‐banking financial company (NBFC) and a wholly owned subsidiary of Greaves Cotton Ltd. With a mission to democratise the EV experience and empowering people throughout the EV ownership lifecycle, ev.fin provides innovative financing solutions exclusively tailored to electric vehicle ownership, supporting the growth of sustainable mobility in India.
About Acko
Founded in 2016 by Varun Dua, ACKO is India’s first direct‐to‐consumer (D2C) insurance company and co‐founded by Vishwanath Ramarao. It has revolutionized the industry by empowering more than 80 million Indians to take control of their protection needs regarding life, health, travel or car insurance. ACKO Tech, the parent company has
built the entire tech in‐house to eliminate the traditional pain points associated with insurance while delivering best‐in‐class consumer experiences. It has changed the way Indians buy Insurance forever. The company has witnessed consistent, rapid growth over the last eight years of its operations, with Gross Written Premium (GWP) doubling in
the last two years. The company is now looking to hit an ambitious $360 million revenue target for FY25.
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