BluSmart’s Asset Leasing Arm 'Assure' Crosses ₹100 Crore in EV Financing

BluSmart’s Asset Leasing Arm 'Assure' Crosses ₹100 Crore in EV Financing

Electric ride-hailing platform BluSmart announced that its asset leasing initiative, Assure by BluSmart, has crossed ₹100 crore in book value, marking a major milestone in the company’s efforts to scale sustainable mobility. Launched earlier this year, Assure allows investment partners to purchase electric vehicles (EVs) and lease them to BluSmart, which then operates them on its platform for passenger rides.

This model not only offers partners fixed monthly rental income, but also supports BluSmart’s mission of providing zero-emission transportation. The initiative has seen rapid traction, growing 10x in monthly financing scale within its first year and bringing over 25 large partners on board.

Thanks to Assure, BluSmart has been able to expand and diversify its fleet, adding premium EV models like the MG ZS SUV alongside its existing Tata Tigor and Citroen eC3 lineup. The success of the program reflects a growing interest in sustainable investment opportunities in India’s evolving EV ecosystem.

“The strong response to Assure in its very first year is a testament to the increasing appetite for green investments in India. Our partners see real value in reliable, emission-free mobility, and Assure is poised to play a key role in that journey,” said Anmol Jaggi, Co-founder, BluSmart.

BluSmart, founded in 2019, operates an all-electric fleet of 8,500 EVs across Delhi NCR and Bengaluru. The company has completed over 21 million rides, covering more than 680 million kilometres, all powered by clean energy.

In line with this momentum, BluSmart reported a 77% year-on-year increase in Gross Merchandise Value (GMV), reaching ₹275 crore in the first half of FY25, up from ₹155 crore in the same period last year. GMV is a critical metric that represents the total value of rides completed through the platform.

With Assure driving investor confidence and premium EV adoption, BluSmart is accelerating its ambition to build a cleaner, smarter, and more sustainable urban mobility ecosystem in India.