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January 23, 2024. NEW DELHI, India.

RevFin, a lender with a focus on electric vehicles, has successfully secured $14 million in its Series B funding round.


The company, led by Founder and CEO Sameer Aggarwal, has concentrated on financing electric three-wheelers and has expanded into two-wheelers and four-wheelers in recent months.


With a strong market presence in 23 states and dominance in five of them, RevFin plans to utilise the funds to extend its geographical reach across India.


Sameer Aggarwal in an interview to CNBC-TV18 stated that the funding will also support rapid scaling in existing markets, including diversification into new segments such as charging infrastructure and batteries.



Omidyar Network led the funding round with a substantial $5 million investment, accompanied by contributions from the Asian Development Bank, Companion Capital, and existing investors Green Frontiers Capital and LC Nueva.


Founded in 2018, RevFin achieved profitability in 2022 and aims to finance two million electric vehicles within the next five years.


This latest funding, marking Omidyar’s final investment in India, brings RevFin’s total capital raised through debt and equity to Rs 625 crore.


In a separate development, digital lending SaaS platform Biz2X has announced ambitious plans to disburse Rs 1,000 crore through its AI-ML backed platform Maadhyam in the current financial year.


Established in 2019 as a subsidiary of Biz2Credit, Biz2X, under the leadership of Co-Founder & CEO Rohit Arora, seeks to bridge the gap between lenders and SMEs.


Arora shared in an interview with CNBC-TV18 that the company’s strategy to provide credit access to digital aggregators, addressing challenges related to monetisation and growth.

Furthermore, Explorex, an experiential technology company supported by investors like Y-Combinator, Super Angels, FitBit, and Kevin Lin (COO of Twitch), claims to tackle long-standing challenges in inventory management, staff onboarding, and customer engagement for the restaurant ecosystem.


Co-Founder & CEO Mainak Sarkar envisions expansion to 30 cities this year, emphasising how Explorex aids restaurants in digitising their operations. For a comprehensive discussion, refer to the accompanying video.


September 27, 2023. SAN FRANCISCO, California

Partnership brings together Carta’s market-leading salary and equity data with Sequoia’s Comp Advisory and Comp OS™.

Sequoia, the pioneer in benefits and compensation, announced its partnership with Carta, a leading provider of private market salary and equity data, to provide VC-backed companies the expert guidance and robust market data needed for designing and implementing smart compensation strategy for today’s fast moving talent market.

A well-informed compensation plan is foundational for attracting, motivating, and retaining top talent while managing burn rate responsibly. By adding Carta Total Compensation (CTC) data to Sequoia Comp OS, joint customers can build a comprehensive pay program for their modern workforce. With Sequoia’s Compensation Advisory practice, joint customers have the expert guidance needed to define a competitive, fair, and scalable compensation strategy.

Joint customers of Sequoia and Carta can expect:


  1. Seamless data flow: Joint customers can access their equity information and CTC benchmarking data within the Sequoia People Platform, eliminating the need to switch between software providers when strategizing a compensation plan.

  2. End-to-end tech-enabled service experiences: Joint customers receive hands-on guidance from Sequoia’s Comp Advisors, providing the resources needed to create a tailored compensation strategy and a trusted partner to operationalize a compensation philosophy through a tech-enabled services platform.

  3. One source of truth: Sequoia’s Compensation Advisors can now leverage Carta’s comprehensive and real-time private company data to help VC-backed companies craft a compensation strategy that positions businesses for success, regardless of the economic landscape.

  4. Flexible services for every company stage: From startups making their first hires to booming enterprises looking to create competitive total rewards packages, Sequoia offers expert guidance to create a compensation program that attracts, motivates, and retains key talent.

Sequoia is committed to helping businesses grow by providing strategic compensation support in areas such as total rewards philosophy, job architecture, cash structures, equity grant guidelines, annual incentive plan and executive compensation. Paired with Sequoia Comp OS™ on the Sequoia People Platform, companies are equipped with real-time visibility and heightened control over their organization’s global people spend that aligns to their goals.

Josh Steinfeld, Carta’s Principal Product Strategist, said, “Compensating your employees fairly while managing burn responsibly is crucial, and next to impossible without the right data and expertise. By partnering with Sequoia, our customers have access to the data and expertise they need to create a compensation strategy that controls costs and maximizes retention.”

Kyle Holm, Sequoia’s VP of Compensation Advisory, added, “Establishing a thoughtful total rewards strategy is the key to gaining a true people advantage. With this packaged solution, our team has the ability to provide strategic insights and bring the data to life, so we can help VC-backed companies, across any stage or economic conditions.”

Sequoia clients can receive streamlined access to demos and more information here.

To learn more about how Sequoia and Carta can help your business, start here.


About Sequoia

Sequoia is the leader in Total People Investment. We help companies create a people advantage through improving retention, attracting top talent, and increasing people-spend ROI. With expert advisory services across compensation and benefits and a powerful platform, we connect employee total comp programs with insightful people analytics so companies can manage their global people investment in real time to better meet the needs of their evolving workforce. Visit Sequoia.com or follow us on LinkedIn to learn more.

About Carta

Carta is a platform that helps people manage equity, build businesses, and invest in the companies of tomorrow. Our mission is to unlock the power of equity ownership for more people in more places. Carta manages nearly three trillion dollars in equity globally. The company is trusted by more than 40,000 companies, over 7,000 funds and SPVs, and over two billion equity holders to manage cap tables, compensation, valuations, liquidity, and more. For more information, visit carta.com.


Media Contact:

Michele Floriani Sequoia press@sequoia.com 650-544-4919



August 15, 2023. LONDON, England.

Bank of America announces the completion of the first ‘Debt-for-Nature’ transaction in Continental Africa and Africa’s first ever involving private creditors to refinance $500 million of Gabon’s sovereign debt.

The new funding will enable Gabon to contribute $125 million to support ocean conservation.


The transaction is Africa’s largest debt refinancing for ocean conservation to date and represents the highest amount of new debt raised for a project supported by The Nature Conservancy (“TNC”)


Bank of America announces the completion of the first ever debt-for-nature transaction in Continental Africa to refinance $500 million of sovereign debt of the Gabonese Republic (“Gabon”). The transaction will enable the country to contribute $125 million in new funding for ocean conservation, supporting their commitment to protect 30 percent of its lands, freshwater systems, and ocean by 2030.


Ocean health is critical to the world economy and the global communities who rely on it to survive. According to the UN Conference on Trade and Development, the sustainable ocean economy is nearly $3 trillion, roughly 3 to 5 percent of the global GDP. The challenges faced by our marine ecosystem are recognized by the United Nations (UN) Sustainable Development Goals (SDG) as Goal 14, which aims to conserve and sustainably use the ocean, seas and marine resources for sustainable development. Blue bonds are debt instruments, issued by governments and development banks to raise capital from investors to finance marine and ocean-based projects that have positive environmental, economic and climate benefits. Similarly, a Blue Loan is a loan where the proceeds are dedicated to finance or refinance activities that contribute to ocean protection.


Bank of America acted as Sole Initial Purchaser, Structuring Agent and Bookrunner on the $500 million issuance, marking the start of what will be a 15-year-long conservation and refinancing project for Gabon. As part of the transaction, Bank of America also acted as Sole Dealer Manager for a tender offer using the proceeds raised from the new Blue Bond issuance used to repurchase a portion of Gabon’s existing sovereign U.S. dollar-denominated Eurobonds.


The payments by Gabon will be partially used to fund contributions to an independent Conservation Fund (with TNC as the project manager and technical advisor) and pay into an endowment that will continue to fund conservation after the bonds are repaid. The U.S. International Development Finance Corporation (DFC) is providing political risk insurance for the Blue Loan to Gabon, which enhances the credit rating of the bond issuance and provides debt relief for Gabon over the next 15 years. This deal also represents the highest amount of new debt raised for a TNC-sponsored project.


“As the first debt-for-nature transaction in Continental Africa, this transaction demonstrates Bank of America’s commitment to sustainable finance and our ability to innovate for our clients. We are encouraged by the enthusiastic response from the global investor community and hope this transaction will serve as a blueprint that can be scaled for other countries interested in improving the sustainability of their debt, while putting global capital to work in enhancing natural capital,” said Paul M. Donofrio, vice chair of Bank of America.


H.E President Ali Bongo Ondimba of Gabon said: “The launch of Gabon’s Blue Bond is an important moment, giving us hope that green or blue financial mechanisms will grow significantly in coming years and help countries like Gabon, who effectively protect critical ecosystems whilst also growing our economies. All too often talk of these new mechanisms to reward countries like my own remain just that. In this case, thanks to the work of our partner, Bank of America, The Nature Conservancy, and the US International Development Finance Corporation, we have made it a reality. I call on Developed Nations and our Multilateral Banks to multiply these sorts of initiatives, which could make a significant contribution to addressing the critical challenges of Climate Change and Biodiversity Loss."


“As a global financial services organization, we are committed to helping lead our clients towards a more sustainable future by developing innovative investments that put global capital to work,” said Bernard Mensah, President of International at Bank of America. “We are proud to be partnering with TNC, DFC and the Gabonese Republic, to contribute to the growing blue bond market and ultimately increase the speed and scalability of future blended conservation deals.”


“The Nature Conservancy’s Blue Bonds for Ocean Conservation program is an ambitious plan that aligns with national and international commitments to scale up ocean conservation around the world and address urgent biodiversity loss through improved ocean management”, said Jennifer Morris, CEO of The Nature Conservancy. “Gabon is the fourth Blue Bonds project for us and combines finance with science and marine planning expertise to help governments reach their conservation and climate goals while also supporting the well-being of their people and economies. Working with Bank of America, we are helping Gabon to ensure protection and management for 30 percent of its ocean – which brings us one step closer to TNC’s bold goal to conserve nearly 10 billion acres of ocean by 2030.”


“DFC’s political risk insurance provided critical support for this historic transaction, helping to mobilize capital from institutional investors and catalyze additional investment in Gabon’s marine conservation efforts,” said DFC CEO Scott Nathan. “We are proud to contribute to this kind of innovative financing in Continental Africa, having supported similar efforts in Central and South America. The Gabon Blue Bond will generate nearly $125 million in financing for new marine conservation efforts over the next 15 years, advancing critical conservation goals, protecting endangered species, and supporting the country’s sustainable ‘blue economy.’ Like previous transactions DFC has supported in Belize and Ecuador, the Gabon Blue Bond illustrates how DFC can effectively lift the credit-profile of a bond issuance to deepen capital markets. We are proud to have partnered on this transformative transaction.”


In 2020 Bank of America set a goal to mobilize and deploy $1.5 trillion by 2030 to advance the sustainable development goals (SDGs) 193 countries agreed to in 2015, with $1 trillion of that focused on helping clients transition to a low-carbon future. From 2021 through 2022, we mobilized and deployed a cumulative total of $410 billion in sustainable finance, with more than $235 billion of that focused on helping drive affordable clean energy and related priorities. This transaction showcases a model of how to raise conservation funding that promotes sustainable development while simultaneously helping to achieve national development priorities, including the sustainable development and growth of Gabon’s marine economy.


Bank of America


Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 68 million consumer and small business clients with approximately 3,900 retail financial centers, approximately 15,000 ATMs and award-winning digital banking with approximately 57 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.


Reporters may contact:


Gaël Gunubu, Bank of America

Phone: 00442079965625


Sheryl Lee, Bank of America

Phone: 1.657.234.9950




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