Tech-Enhanced Finance Company​
Powering EV Mobility in Emerging Markets

Founding Team

Cedrick Tandong, Co-Founder and CEO

Kevin Wervenbros , Co-Founder and CFO

Apurv Mehra, Co-Founder and CTO

Hardip Goindi, Co-Founder and COO

Maggie Thomas, Co-Founder and Head of Community Development


India has 22 of the world's 50 most polluted cities. Contributing to this pollution and city congestion are 6 million rickshaws operated by approximately 12 million drivers. These rickshaws contribute 10% of India’s carbon dioxide (CO2) emissions. Less polluting vehicles can make the difference but auto rickshaw drivers are limited in their access to affordable finance, due to a lack of banking history, leaving them in exploitive lending cycles or choosing to rent a vehicle daily.

Three Wheels United (TWU) finances smart electric auto rickshaws and integrates them with public transportation. TWU helps drivers switch to these vehicle by offering alternate credit rating mechanisms to lend to this market.

TWU has financed over 4,000 lower carbon vehicles with a default rate of less than 1%. The new vehicles can reduce CO2 emissions by over150,000 tonnes over their operational life cycles. TWU plans to finance 60,000 auto rickshaws over the next 4 years, reducing carbon emissions by over 3.9 million tonnes. This will help ensure the sustainability of the vehicles and of the larger transport system by processing data and providing feedback to all stakeholders and operators. In this way TWU is playing a key role in making smart and sustainable cities.

In collaboration with Microsoft Research and Mahindra Electric we have built a state of the art data driven lending platform 'Prayana'. We capture data various stakeholders in the EV ecosystem which helps us de-risk lending to marginalized communities at affordable rates. The telemetry, financial and behavioral data collected provides us a real-time picture into the current portfolio, helps proactively identify lenders who require attention and minimize operational costs while keeping the defaults rate a record low.




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Press and Publications

  1. BBC News: The rise of the electric three-wheeler could help to reduce India’s emissions and improve air quality, but how can this niche vehicle compete on Delhi’s busy streets? [Link]

  2. The Hindu : Three Wheels United helps auto drivers switch to sustainable vehicles [Link]

  3. Times Now: Data Driven financing platform for e-rickshaws [Link] 

  4. The Times Of India: 9 electric autos now run in Bengaluru; want to make it 1 lakh by 2024 [Link]

  5. The Economic Times: Bengaluru social enterprise to finance e-auto rickshaw adoption [Link]

  6. Financial Express: Three Wheels United: Evolving a new loan process for EVs [Link]

  7. Analytics India Mag: This EV Financing Startup Uses AI To Help Auto-Rickshaw Drivers Switch To Electric Three Wheelers [Link]