Roadcast, one of the leading SaaS-based logistics automation platforms in India and Accelerated Money for U (AMU), a prominent non-banking financial company (NBFC) in India, specializing in financing electric vehicles (EVs) announce a groundbreaking partnership.
In this collaboration, AMU will be implementing Roadcast’s GPS technology in as many of the e-rickshaws they finance as possible. This collaboration is in line with Roadcast and AMU’s goals of enhancing security, promoting EV technology, and supporting environmental sustainability. This collaboration will help in monitoring and managing fleets, adapting to technological advancements and contributing to national IoT ecosystem. This strategic collaboration aims to also revolutionise EVs in Tier-2 and Tier-3 cities and tap into the emerging markets in these regions, which have the potential for profitable EV financing.
Roadcast has been at the forefront of fleet management solutions with smart tools like GPS tracking and AMU has been a constant accelerator in helping enhanced adoption of EVs. By GPS-enabling 3W e-rickshaws leased by AMU with Roadcast’s technology, AMU will be able to predict and identify non-performing assets and riders who may default on payments. The analytics capabilities will also provide insights into the performance of original equipment manufacturers (OEMs). Thus, enabling AMU to further make informed decisions.
“As a tech-first company, we’re committed to leading the green revolution alongside the increasing adoption of electric vehicles. Our partnership with AMU allows us to significantly enhance public access to advanced, connected EVs. In addition to this, adopting Roadcast’s GPS device will significantly impact NBFCs by enabling faster fund reallocation. In leasing agreements, timely fund recovery is crucial, and Roadcast’s technology provides predictive insights that support proactive risk management strategies. This partnership will ensure that potential issues are identified early, allowing for quicker interventions and more efficient fund recovery, ultimately improving financial operations and stability in the EV sector”, shares Rahul Mehra, co-founder at Roadcast.
“We are glad to partner with Roadcast. This collaboration will first and foremost help us identify vehicles at risk of default early on. This will allow us to intervene effectively and streamlines our fund allocation process. The access provided by Roadcast will help us navigate the complexities of NBFC operations more efficiently. In addition to this, their IoT expertise for real-time vehicle tracking which will help in enhancing security and reliability through efficient EV and UAV operations. This partnership not only promotes eco-friendly transportation and client satisfaction but also aligns with AMU’s vision of contributing to national GDP growth. By ensuring the safety and operational efficiency of their financed vehicles, AMU can foster trust, support small businesses, and advance sustainable practices in the electric mobility sector”, shares Nehal Gupta, Founder & MD, AMU.