EV Life, a Sacramento, CA-based climate finance platform making it cheaper and easier for anyone to buy electric vehicles, closed an $8m debt facility led by Trisolaris, LLC.
The debt facility enables the company to grow its EV loans and fully transition to a lending platform, connecting EV borrowers with lenders from credit unions, community banks and other institutions.
Led by Kevin Favro, Founder, Co-CEO and Head of Product, and Peter Glenn, Founder, Co-CEO & Head of Marketing, EV Life is a climate finance platform making it cheaper and easier for anyone to acquire electric vehicles. Its digital lending experience enables consumers to use EV tax credits and rebates upfront in auto loans that lower payments – driving EV payments to parity with gas vehicles.
Since launching its new EV auto loan product in June, the company sold through its initial $2M debt facility in only 12 weeks.
EV Life’s pre-seed round was led by Growth Factory Ventures and Gaingels with participation from Trisolaris, Ritmo Ventures, Mana Ventures, and several other funds and angel investors.
FinSMEs
06/10/2023