About Solfin
Solfin is a Financial Services company based in Gurugram (India) founded in 2022 by Gautam Kaushik and Pramod Mahanta. SME loans for solar projects are financed and overseen. Solfin has raised $54.57 million across 4 funding rounds from investors including Waaree Sustainable Finance, PointOne Capital and QED Innovation Labs. The company has 1 employees. Solfin has completed 1 acquisition, including Dhanvikas. Its Indian entity Xsfinance And Investment Private Limited reported revenue of ₹2.98 Cr. Its focus areas include Consumer and SME Loans, SME Loans, Diversified and Internet-First. Its competitors include Apollo Finvest, Xtracap Fintech and Globe Fincap; 1 of its 3 listed competitors has raised funding.
Company details
Solfin was founded in 2022 and is headquartered in Gurugram, India. Loans are extended to small and medium enterprises within the renewable energy sector, specifically for solar initiatives. Collaboration with real estate developers is maintained to finance and manage the construction of community-scale, ground-mounted solar arrays. Clean power generation is facilitated through these projects across India.
- Headquarters Gurugram, India
- Employees 1
- Founders Gautam Kaushik, Pramod Mahanta
- SectorsFinancial Services
- Email••••••••
- Phone•••• ••••
- Website solfin.co.in
- Social LinkedIn X Facebook
- Legal Name Xsfinance And Investment Private Limited
- Date of Incorporation 01 Dec, 2022
- Jurisdiction Gurgaon, Haryana, India
- Annual Revenue₹2.98 Cr
FY 2025 · +902% YoY
- Net Loss-₹5.17 Cr
FY 2025 · -174% margin
- EBITDA-₹5.53 Cr
FY 2025 · -186% margin
- Total Equity Funding$54.57M (USD)
in 4 rounds
- Latest Funding Round$28.94M (USD), Series C
May 2026
- InvestorsPointOne Capital
& 17 more
- Employee Count1
- Investments & Acquisitions
Associated legal entities of Solfin
Solfin operates through Xsfinance And Investment Private Limited (active). Its filings, financials, charges and directors are on the company page.
| Legal entity | Status | Incorporated | Registered in | Revenue (FY 2025) | Employees | Directors | Company page |
|---|---|---|---|---|---|---|---|
| Xsfinance And Investment Private Limited CIN U65999HR2022PTC108105 | Active | 01 Dec 2022 | Gurgaon, Haryana | ₹3.0 Cr | 32 | 4 | View details |
Funding Insights of Solfin
Solfin has successfully raised a total of $54.57M across 4 strategic funding rounds. The most recent funding activity was a Series C round of $28.94 million completed in May 2026. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $54.57M
- Total Rounds 4
- Last Round Series C — $28.94M
- First Round $212,996
(Mar 2023)
- Investors Count 18
All 4 funding rounds of Solfin with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2026 | $28.94M | Series C | – | – | – |
| Feb 2026 | $13.74M | Series B | – | Arham Investment | |
| May 2025 | $11.69M | Series B | – | – | |
| Mar 2023 | $212,996 | Seed | – | PointOne Capital |
18 investors in total: 9 institutional and 9 angel.
Investors in Solfin
Solfin has secured backing from 18 investors, including venture fund, angel, and institutional investors. Prominent investors backing the company include Waaree Sustainable Finance, PointOne Capital and QED Innovation Labs.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
| pointone.capital | ||||
| letsventure.com | ||||
| southhandlooms.com | ||||
MD Mansukhbhai Dankhara | unknown_6f89fcc619034eb58 | |||
RK Ramakant Khandelwal | unknown_b0460f14ada6424eb | |||
KR Khanik Rameshbhai Shah | unknown_cc739ab90c3e444f9 | |||
RK Ramesh Kumar Jain | unknown_28e87f9209684c618 |
Investor details for Solfin
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
- Complete investor list
- Round participation
- Investor portfolios
- Co-investor network
Verified entity values are shown only after access is granted.
Board of directors of Xsfinance And Investment Private Limited (Solfin)
Xsfinance And Investment Private Limited is the primary company behind Solfin. The board of Xsfinance And Investment Private Limited currently have 4 directors; the longest-serving is Pramod Mahanta, appointed in 2022. 2 earlier directors have ceased.
| Director | Designation | Appointed | Tenure | Entity |
|---|---|---|---|---|
| Pramod Mahanta DIN 07793422 | Director | 01 Dec 2022 | 3 yrs 11 mo | Xsfinance And Investment Private Limited |
| Gautam Kaushik DIN 06443275 | Director | 01 Dec 2022 | 3 yrs 11 mo | Xsfinance And Investment Private Limited |
| Ankit Hitesh Doshi DIN 07605202 | Nominee Director | 29 Jan 2024 | 2 yrs 9 mo | Xsfinance And Investment Private Limited |
| Rushabh Pankaj Doshi DIN 07829435 | Nominee Director | 29 Jan 2024 | 2 yrs 9 mo | Xsfinance And Investment Private Limited |
People of Solfin
2 people are tracked at Solfin (2 in leadership); the tracked headcount is 1.
| Name | Role | Group |
|---|---|---|
| Co-Founder & Director | Leadership | |
| Co-Founder and Director | Leadership |
Complete people profiles for Solfin
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
- Full employee list
- Team structure
- Board tenure
- Professional contacts
Verified entity values are shown only after access is granted.
Financials of Solfin
Figures of Xsfinance And Investment Private Limited, the primary company behind Solfin, for FY 2025. Revenue was ₹2.98 Cr (+902% year on year). Net loss was -₹5.17 Cr (-174% margin). EBITDA was -₹5.53 Cr (-186% margin).
- ₹2.98 CrRevenue · FY 2025 · +902% YoY
- -₹5.17 CrNet loss · -174% margin
- -₹5.53 CrEBITDA · -186% margin
- ₹10.1 LakhPaid-up capital
- 32Employees (provident fund records)
Balance sheet, profit and loss, cash flow and ratios of Xsfinance And Investment Private Limited are on its company page.
Detailed financial statements for Solfin
Statement rows, ratios, five-year trends and downloadable financials of the group companies require an active premium plan.
- Statement rows
- Financial ratios
- Five-year trends
- Downloads
Verified entity values are shown only after access is granted.
Investments & Acquisitions by Solfin
Solfin has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Dhanvikas.
| Company Name | Description | Domain | Location | Founded | Acquired | Amount |
|---|---|---|---|---|---|---|
Solar energy services are provided to residential and commercial customers. | dhanvikas.com | Mumbai, India | 2018 | Oct 2024 | •••• |
Complete acquisition details for Solfin
Acquired stakes, deal sources and the complete acquisition history require an active premium plan.
- Acquired stakes
- Deal sources
- Complete history
- Exports
Verified entity values are shown only after access is granted.
Timeline of Solfin
4 dated milestones of Solfin across 4 years, from founding to its latest funding, stage changes and deals.
- Founded Solfin is founded.
- Funding First funding round of $213K.
- Acquisition Acquires Dhanvikas.
- Funding Latest funding round, Series C, of $28.9M.
Competitors of Solfin
Solfin has 3 listed competitors in our database, 1 of them funded. They include Apollo Finvest, Xtracap Fintech and Globe Fincap.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| apollofinvest.com | 1985 | Mumbai, India | 28 | Digital loans are enabled for companies to offer. | ||
| xtracapindia.com | 2017 | Gurugram, India | $3.52M | 193 | Small business loans are extended to enterprises by Xtracap Fintech. | |
| globefincap.net | 2008 | New Delhi, India | 6 | Offers comprehensive SME loan solutions to support business growth. |
Detailed competitors of Solfin
The full competitor set, operating metrics and side-by-side benchmarks require an active premium plan.
- Full competitor set
- Operating metrics
- Benchmarks
- Competitive positioning
Verified entity values are shown only after access is granted.
Web traffic of Solfin
The website of Solfin (solfin.co.in) receives about 7.3K visits a month.
- Monthly visits7.3K
▼ 43.5% vs previous month
Top companies in Consumer and SME Loans
3 companies that operate in the same segment as Solfin (Consumer and SME Loans) in India, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Consumer and SME loans are provided by Manappuram Finance. | 1992 | Valapad, Kerala, India | USD 39.98 M | USD 1.01 B | 51,650 | |
Affordable home loans are extended to low and middle-income groups. | 2010 | Mumbai, Maharashtra, India | USD 209.7 M | USD 204.93 M | 1,634 | |
Diversified lending services are provided as a non-banking financial institution. | 1994 | Mumbai, Maharashtra, India | USD 1.9 B | 167 |
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Frequently Asked Questions about Solfin
Solfin was founded in 2022 and raised its 1st funding round 1 year after it was founded.
Solfin is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.
Solfin is a funded company, having raised a total of $54.57M across 4 funding rounds to date. The company's 1st funding round was a Seed of $213K, raised on Mar 2023.
Solfin has 1 employees.
The primary company behind Solfin, Xsfinance And Investment Private Limited, reported revenue of ₹2.98 Cr for FY 2025, up 902% year on year.
Solfin was founded in 2022 and is headquartered in Gurugram, India. Loans are extended to small and medium enterprises within the renewable energy sector, specifically for solar initiatives. Collaboration with real estate developers is maintained to finance and manage the construction of community-scale, ground-mounted solar arrays. Clean power generation is facilitated through these projects across India.
Solfin's top competitors include Xtracap Fintech, Apollo Finvest and Globe Fincap.
Solfin has made 1 acquisition, including Dhanvikas.
Solfin has 18 investors. Key investors include Waaree Sustainable Finance, PointOne Capital, QED Innovation Labs, Mansukhbhai Dankhara, and Ramakant Khandelwal.
Solfin operates through Xsfinance And Investment Private Limited.
The legal entities of Solfin currently have 4 directors, including Ankit Hitesh Doshi, Pramod Mahanta, Rushabh Pankaj Doshi and others.