Three Wheels United to expand trade in 27 cities by April
Three Wheels United (TWU), an electric car finance fintech start-up, expects to be operating in 27 locations throughout India by April 2023. In addition to the existing 16 places where it is active, the startup hopes to create a presence in 11 more. Almost 50,000 drivers use the platform, which offers a variety of products and services. It claims to have funded over 4,000 auto-rickshaws, resulting in a decrease of more than 172,000 tonnes of CO2 emissions and an increase in revenue for drivers of $71 million (Rs 585 crore).
Cedrick Tandong, CEO and Co-Founder of Three Wheels United announced that they are thrilled to announce the expansion into 11 more locations, extending the company’s overall presence to 27 cities across India. As the demand for electric vehicles grows, TWU’s mission is to help consumers with lower incomes make the shift by providing conveniently accessible financing. He also added that the team is ecstatic with the great reaction received so far. TWU is excited to collaborate with many more drivers to accelerate EV adoption in India according to the CEO.
Delta Corp Holdings led the fundraising as part of the Series A investment. Existing and new investors took part. TWU also runs experimental programmes in Africa, the Middle East, and other regions. This will assist to enhance drivers’ livelihoods while also lowering global air pollution. It has lately investigated funding for electric two-wheelers.
Three Wheels United will be opening operations in Agra, Kanpur, Faizabad, Aligarh, Lucknow, Bareilly, and Kannur over the next month.
