Sustainability platform Tapfin, which focuses on providing a variety of services including financing and insurance to startups and micro, small, and medium enterprises (MSMEs) within the sustainability ecosystem, has secured $4 million in a seed funding round led by Elevar Equity.

The Mumbai-based company will use the newly acquired capital to fuel its growth initiatives, expand its market reach, and enhance its technological capabilities by attracting top-tier talent across various domains.

In addition to facilitating financing and insurance opportunities for companies in the sustainability space, Tapfin also aims to create an ecosystem among these companies.

Ternizza Berry, cofounder, Tapfin says, “There are a few large players in the sustainability space, and it doesn't matter which facet you pick up, or which vertical of sustainability you pick up, it is really being driven by MSMEs and startups. Now, there are providers of service, for example, financing, and there are people who need the service, but they don't know how to connect with each other. So, we are building an ecosystem, where we offer solutions to possibly each participant in that ecosystem.”

Tapfin is currently focusing on the clean mobility sector, but the company plans to gradually diversify into other verticals such as solar energy and other renewable technologies.

Sandeep Farias, founder and managing partner of Elevar Equity says, “We see immense potential in TapFin’s goal to become India’s leading technology-led Sustainability Platform, offering a range of value-added services. Our investment aligns with Elevar’s goal to focus on the entrepreneurial potential of underserved customers and households and the communities they live in.”