About Ride Finance
Ride Finance is a Financial Services company based in Chennai (India) founded in 2021. It offers financing for new motorcycles, used bikes, and electric vehicles. It operates on a B2C model. The company has 216 employees. Its Indian entity Deccan Finance Limited reported revenue of ₹21.15 Cr. Ride Finance offers products and services including New Two Wheeler Loans, Used Two Wheeler Loans, Electric Vehicle Loans, and Hybrid Bicycle Loans. Its focus areas include FinTech, Sustainable Finance, Green Loans and Electric Vehicle Funding. Its competitors include OTO, Bike Bazaar and Drivio; 3 of its 3 listed competitors have raised funding.
Company details
Ride Finance, part of Deccan Finance Limited, specializes in loans for new and used two-wheelers, including electric vehicles and hybrid bicycles. It operates through partnerships with banks and NBFCs, using AI for efficient decisions. Based in Chennai, India, the company focuses on transparent processes and attractive rates to help individuals own vehicles. Services include easy applications and additional loans for existing customers, promoting green mobility.
- Headquarters Chennai, India
- Employees 216
- SectorsFinancial Services
- Email••••••••
- Website myridefinance.com
- Social LinkedIn Facebook
- Legal Name Deccan Finance Limited
- Date of Incorporation 02 Nov, 1978
- Jurisdiction Chennai, Tamil Nadu, India
- Annual Revenue₹21.15 Cr
FY 2024 · +6% YoY
- Net Loss-₹1.82 Cr
FY 2024 · -9% margin
- EBITDA₹5.44 Cr
FY 2024 · 26% margin
- Employee Count216
Associated legal entities of Ride Finance
Ride Finance operates through Deccan Finance Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2024) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Deccan Finance Limited CIN U65910TN1978PLC007632 | Active | 02 Nov 1978 | Chennai, Tamil Nadu | ₹21.1 Cr | 216 | 6 | View details |
Products & Services of Ride Finance
Ride Finance offers a comprehensive portfolio of products and services, including New Two Wheeler Loans, Used Two Wheeler Loans, Electric Vehicle Loans, and Hybrid Bicycle Loans.
Provides loans for purchasing new motorcycles and scooters.
Offers financing for buying pre-owned two-wheelers.
Facilitates loans for electric two-wheelers to support eco-friendly transport.
Extends loans for hybrid bicycles as alternative mobility options.
Board of directors of Deccan Finance Limited (Ride Finance)
Deccan Finance Limited is the primary company behind Ride Finance. The board of Deccan Finance Limited currently have 6 directors; the longest-serving is Ramana Shetty Venkata Krishna, appointed in 1992. 12 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Ramana Shetty Venkata Krishna DIN 01470034 | Director | 09 Mar 1992 | 34 yrs 7 mo | Deccan Finance Limited |
| Kailashmull Dugar DIN 00134419 | Director | 01 Apr 2015 | 11 yrs 6 mo | Deccan Finance Limited |
| Dugar Hemant DIN 01810638 | Director | 21 Nov 2018 | 7 yrs 11 mo | Deccan Finance Limited |
| Abhay S Mehta DIN 02057831 | Director | 22 May 2019 | 7 yrs 5 mo | Deccan Finance Limited |
| Sanjay Bhansali DIN 01811994 | Nodal Officer | 07 Aug 2025 | 1 yr 2 mo | Deccan Finance Limited |
| Suresh DIN 07911838 | Additional Director | 01 Jan 2026 | 9 mo | Deccan Finance Limited |
Financials of Ride Finance
Figures of Deccan Finance Limited, the primary company behind Ride Finance, for FY 2024. Revenue was ₹21.15 Cr (+6% year on year). Net loss was -₹1.82 Cr (-9% margin). EBITDA was ₹5.44 Cr (26% margin). Revenue has grown at a compounded annual rate of +59% over three years and +32% over five years.
- ₹21.15 CrRevenue · FY 2024 · +6% YoY
- -₹1.82 CrNet loss · -9% margin
- ₹5.44 CrEBITDA · 26% margin
- ₹5.58 CrPaid-up capital
- 216Employees (provident fund records)
- +59%Revenue CAGR, 3 years
- +32%Revenue CAGR, 5 years
Balance sheet, profit and loss, cash flow and ratios of Deccan Finance Limited are on its company page.
Detailed financial statements for Ride Finance
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Competitors of Ride Finance
Ride Finance has 3 listed competitors in our database, 3 of them funded. They include OTO, Bike Bazaar and Drivio.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| otocapital.in | 2018 | Bengaluru, India | $29.66M | 229 | Two-wheeler loans are provided via a fintech platform for purchases. | |
| bikebazaar.com | 2017 | Pune, India | $65.78M | 1,838 | Online platform for buying and selling two-wheelers | |
| drivio.in | 2022 | Gurugram, India | $1.43M | 93 | Two-wheeler loans are provided through an online consumer marketplace. |
Detailed competitors of Ride Finance
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Top companies in Climate & Green FinTech
2 companies that operate in the same segment as Ride Finance (Climate & Green FinTech) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Provider of microloans | 2010 | Delhi, Delhi, India | USD 71.68 M | 12,403 | ||
Venture capital investing in innovative startups across technology sectors. | 2008 | Bengaluru, Karnataka, India |
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Frequently Asked Questions about Ride Finance
Ride Finance was founded in 2021.
Ride Finance is headquartered in Chennai, India. It is registered at Chennai, Tamil Nadu, India.
Ride Finance has 216 employees.
The primary company behind Ride Finance, Deccan Finance Limited, reported revenue of ₹21.15 Cr for FY 2024, up 6% year on year.
Ride Finance, part of Deccan Finance Limited, specializes in loans for new and used two-wheelers, including electric vehicles and hybrid bicycles. It operates through partnerships with banks and NBFCs, using AI for efficient decisions. Based in Chennai, India, the company focuses on transparent processes and attractive rates to help individuals own vehicles. Services include easy applications and additional loans for existing customers, promoting green mobility.
Ride Finance's top competitors include OTO, Bike Bazaar and Drivio.
Ride Finance offers New Two Wheeler Loans, Used Two Wheeler Loans, Electric Vehicle Loans, and Hybrid Bicycle Loans.
Ride Finance operates through Deccan Finance Limited.
The legal entities of Ride Finance currently have 6 directors, including Sanjay Bhansali, Ramana Shetty Venkata Krishna, Abhay S Mehta and others.