Funding News: Macquarie Asset Management Secures $405Million for EV Fleet Platform Vertelo in India

Company: Vertelo

Founders: Abhishek Poddar

Sector: Electric Vehicles / Fleet Management

About Us: Vertelo is an India-focused electric vehicle (EV) fleet platform providing end-to-end solutions, including vehicle financing, fleet management, charging infrastructure, and end-of-life asset solutions. Launched in April 2024 under Macquarie Asset Management Green Investment, Vertelo aims to accelerate clean mobility adoption across commercial fleets in India.

Founded Year: 2024

Office: India (Headquarters)

Funding Round: Growth / Strategic Investment

Investors: Macquarie Asset Management, Green Climate Fund, Macquarie Green Energy Transition Solutions Fund (MGETS), Allianz Global Investors, Australian Ethical

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Macquarie Asset Management (MAM) has raised $405 million to fuel the growth of Vertelo, its electric fleet solutions platform in India. Launched in April 2024 under MAM Green Investment, Vertelo focuses on accelerating clean mobility through financing, charging infrastructure, fleet management, and end-of-life asset solutions.

The fundraising round included $205 million from institutional investors and $200 million in concessional capital from anchor investor Green Climate Fund (GCF). Concessional capital, often called “patient capital,” is offered on terms more favourable than market norms to support projects with social, environmental, or developmental impact.

Website: https://www.vertelo.in

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