Indian EV startup Simple Energy has announced a strategic collaboration with IDFC FIRST Bank to provide vehicle financing solutions for customers purchasing its electric scooters across India.

The startup said that theeligible customers can avail of loans through IDFC FIRST Bank at its authorised dealerships nationwide.

Under the partnership, both organisations will work together to promote vehicle financing solutions tailored for customers purchasing Simple Energy scooters. The collaboration leverages IDFC FIRST Bank's financing capabilities and Simple Energy's growing retail presence to provide customers with a seamless financing experience at the point of purchase.

“India's transition to electric mobility will be driven not only by innovation, but also by accessibility. As we continue expanding our retail footprint across the country, it is equally important to make EV ownership more convenient for customers. This partnership with IDFC FIRST Bank will help simplify the purchase journey by enabling easier access to financing, allowing more riders to experience our long-range, high-performance electric scooters and accelerate the adoption of electric mobility," said Shreshth Mishra, Co-founder at, Simple Energy.

Currently, Simple Energy operates 73 outlets across 39 cities including Bengaluru, Delhi, Patna, Bhopal, Agra, Goa, Vijayawada, Hyderabad, Visakhapatnam, Kochi, and Chennai, among others while continuing to ramp up its pan-India expansion.

In the coming months, the startupwill expand to Ranchi, Bhubaneshwar and other centres. The Simple OneS Gen 2 is priced from Rs 1,59,999  (ex-showroom) and Simple One Gen 2 is priced from Rs 1,94,999 (ex-showroom). The Simple Ultra is priced at Rs 2,34,999 (ex-showroom).

Last month, Simple Energy raised Rs 250 crore in a mix of debt and equity in a Series B funding round led by family office of Dr. Arokiaswamy Velumani, along with Founder and CEO of Simple Energy, Suhas Rajkumar, and Co-founder and CFO Ankit Gupta.