In a decisive step towards making electric mobility faster, fairer, and more inclusive, Delhi-based Chargeup has partnered with Mega Corp and Shivakari Finance to launch a ₹50 crore credit line dedicated to the deployment of 4,000 commercial EVs over the next 12 months. This bold initiative is not just about scaling numbers it’s about addressing a longstanding gap in credit accessibility for gig workers, many of whom are the backbone of India’s last-mile delivery and ride-sharing economy but remain underserved by formal financing channels.
What makes this move particularly transformative is the turnaround time. Financing approvals that traditionally take three to four days will now happen in under four hours a game changing shift for daily-wage drivers who can’t afford to wait. Varun Goenka, CEO and Co-founder of Chargeup, rightly emphasized, “We’re enabling financing in four hours instead of three to four days,” underlining a commitment that blends speed with inclusion, and puts the power of mobility directly in the hands of those who need it most.
The new initiative is built on the success of Chargeup’s proven model, which has already enabled 8,000+ drivers and facilitated over ₹8.6 crore in EV financing. This partnership only strengthens their mission providing accessible, efficient, and tech-driven financial solutions that help gig workers become owners of clean mobility tools, rather than just operators. For an industry often hindered by lack of credit visibility and financial documentation, such trust-based lending represents a fundamental mindset shift.
By addressing both environmental sustainability and social equity, Chargeup’s latest move positions them at the forefront of India’s EV revolution. It’s a compelling example of how innovation, partnership, and purpose-driven finance can come together to drive scalable impact. With this initiative, Chargeup isn’t just funding EVs they’re powering livelihoods, unlocking opportunity, and helping shape a more inclusive green future for India’s urban workforce.
