Manba Finance and Piaggio Vehicles Sign MoU for Tailored 3-Wheeler Financing Solutions

 

Mumbai: “Manba Finance Ltd”, a leading non-banking finance company, has announced a strategic partnership with “Piaggio Vehicles Pvt Ltd” (PVPL), a prominent manufacturer of small commercial vehicles in India and a subsidiary of the Piaggio Group. This collaboration aims to provide tailored financing solutions to customers in the 3-wheeler segment, offering benefits such as low down payments, competitive interest rates, and loan tenures of up to four years.

Highlights of the MoU:

• Partnership Objective: To offer easy access to financing for customers purchasing both internal combustion engine (ICE) and electric vehicles (EV) in the 3-wheeler segment.
• Target Audience: Special financing options will also be made available to women entrepreneurs, promoting inclusivity in the business sector.
• Financing Features: Low down payments, flexible loan tenures, and competitive interest rates to support the growth of small and large entrepreneurs.
• Digital On-boarding: The collaboration includes a seamless digital onboarding process for customers, enhancing accessibility and efficiency in the financing journey.

The MoU was signed by Mr. Diego Graffi, CMD of Piaggio Vehicles Pvt Ltd, and Mr. Monil Shah, CBO & Director of Manba Finance Ltd, with the presence of key executives including Mr. Amit Sagar and Mr. Nilesh Arya from Piaggio. A central coordination team will be set up to ensure smooth execution of the partnership, focusing on product structuring, interest rate optimization, and customer support.

This collaboration comes at a significant time, as electric 3-wheeler (3W) sales have reached a record high of 65,700 units in October, driven by festive demand and the shift towards sustainable mobility solutions. The partnership supports India’s growing electric vehicle adoption and encourages entrepreneurship in the 3-wheeler sector, reinforcing the commitment to sustainable mobility and economic empowerment.

Mr. Monil Shah commented, “We are excited to collaborate with Piaggio, a trusted brand that is leading the charge in the 3-wheeler segment. This partnership allows us to enhance our presence in the market while offering innovative and accessible digital financing solutions to our customers”.

This strategic alliance aligns with Manba Finance’s goal to drive India’s shift towards sustainable transportation and provide financial empowerment to entrepreneurs nationwide.