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Provider of innovative financial solutions Finayo and manufacturer of electric e-rickshaws BYBY Electric on Thursday announced a partnership aimed at providing seamless and accessible financing options for customers purchasing electric e-rickshaws. 

This partnership aims to make the transition to electric transportation easier and more affordable for end users.

"Our collaboration with Finayo is a significant step towards our goal of driving the mass adoption of electric e-rickshaws," Rajiv Tuli, CEO of BYBY Electric, said in a statement.

"By providing our customers with convenient financing options, we are making it easier for them to choose environmentally friendly transportation solutions," he added.

The partnership will utilise Finayo's advanced financial technology platform to offer customised lending solutions tailored to meet the unique needs of BYBY Electric's customers.

Prospective e-rickshaw buyers will benefit from a streamlined application process, competitive interest rates, and flexible repayment terms, the company said.

"Our advanced lending solutions are designed to offer flexible and affordable financing, empowering more consumers to embrace sustainable transportation," said Nitin Kant, Director of Sales & Operation of Finayo.

Finayo will provide a variety of financing plans designed to suit different budgetary requirements, making it easier for more people to afford sustainable transportation solutions.

The partnership will also utilise Finayo's technology to offer a smooth, user-friendly financing experience from application to loan management.