Zypp Electric, India’s leading tech-enabled electric vehicle (EV) rental platform, has strengthened its leadership team with the appointment of Mukesh Singla as its new Chief Financial Officer (CFO), effective August 1. The company continues to expand aggressively across India’s EV mobility ecosystem, and Singla’s entry signals a sharper focus on financial strategy, fundraising, investor engagement, and compliance.
A Strategic Appointment Amid Rapid Growth
Zypp Electric has built a strong reputation in the EV rental and last-mile delivery ecosystem. The company enables businesses and gig workers to rent electric two-wheelers for hyperlocal deliveries, logistics, and urban commuting. As India pushes toward electrification and sustainability, Zypp Electric has captured significant demand from e-commerce, food delivery, and courier firms.
The appointment of Mukesh Singla as CFO reflects the company’s determination to reinforce its financial structure. Zypp aims to expand its EV fleet, scale operations across new cities, and secure strategic partnerships with global investors. With capital-intensive growth plans and increasing competition in the EV rental segment, the CFO’s role becomes critical in ensuring sustainable expansion and strong financial governance.
CEO and Co-Founder of Zypp Electric, Akash Gupta, emphasized the importance of this appointment. He highlighted that robust financial leadership will ensure Zypp not only accelerates growth but also maintains discipline in capital allocation. Gupta believes Singla’s global exposure and deep financial expertise will give Zypp an edge in its next growth phase.
Mukesh Singla’s Career Journey
Mukesh Singla brings with him over two decades of financial leadership experience across diverse industries and geographies. His career spans India, Africa, and the UAE, where he has consistently delivered financial turnarounds, built scalable systems, and executed strategic fundraising initiatives.
Before joining Zypp Electric, Singla served as Chief Financial Officer at Airtel Africa Mobile Money, a key business vertical of Airtel Africa. In that role, he managed the financial operations of Airtel’s mobile money division, a critical growth driver for the telecom giant. His leadership contributed to the rapid scaling of Airtel’s fintech operations, securing investor trust, and delivering compliance in multiple regulatory environments.
Prior to Airtel, Singla held senior finance positions in both telecom and technology-driven businesses. His career track record demonstrates a unique ability to build financial systems for high-growth ventures in challenging and dynamic markets.
Speaking on his appointment, Singla expressed optimism:
“Zypp’s strong market position, innovative technology platform, and commitment to sustainable mobility create tremendous opportunities. I look forward to building robust financial foundations that will support our growth trajectory and create long-term value for all stakeholders.”
Role and Responsibilities at Zypp Electric
As CFO, Singla will oversee all aspects of financial strategy and management. His key responsibilities include:
- Financial Strategy: Designing and executing long-term financial roadmaps that align with Zypp’s ambitious expansion plans.
- Fundraising: Leading equity and debt financing efforts to fuel Zypp’s growth and strengthen its EV fleet across multiple Indian cities.
- Investor Relations: Building transparent communication with investors and stakeholders to ensure trust and confidence in Zypp’s business model.
- Compliance: Strengthening financial governance, ensuring adherence to statutory requirements, and building frameworks that withstand regulatory scrutiny.
- Operational Efficiency: Optimizing financial processes, cost management, and unit economics to support profitability and scalability.
With Zypp’s expansion plans involving heavy investment in fleet growth, charging infrastructure, and technology innovation, Singla’s expertise will play a decisive role in balancing aggressive growth with financial prudence.
Zypp Electric’s Market Position
Zypp Electric has positioned itself as a pioneer in sustainable mobility solutions. The company operates a fast-growing EV-as-a-service platform, offering electric scooters to delivery executives and enterprises on a rental basis. Businesses across e-commerce, food delivery, and logistics—such as Zomato, Swiggy, Amazon, and BigBasket—rely on Zypp’s EV fleet for cost-efficient, green last-mile delivery.
The company’s business model thrives on India’s growing demand for delivery services and rising environmental consciousness. By providing affordable EV rentals with integrated technology platforms for fleet management, Zypp delivers both operational efficiency and sustainability.
Currently, Zypp Electric operates in multiple Indian cities, with an expanding fleet that runs entirely on electric vehicles. This business model not only supports India’s climate goals but also creates livelihood opportunities for delivery partners.
Financial Challenges in the EV Sector
While the EV rental sector shows promise, companies like Zypp Electric face several financial challenges. Capital intensity remains high, as fleet expansion requires significant upfront investment. Additionally, the establishment of charging infrastructure, maintenance systems, and tech platforms adds to the financial burden.
Regulatory environments also shift rapidly as governments roll out new policies to encourage EV adoption. Managing compliance across state and national levels requires robust financial governance. Furthermore, fundraising in a competitive EV ecosystem demands clear communication of profitability pathways and strong investor confidence.
With these challenges in mind, Zypp’s decision to bring on an experienced financial leader demonstrates foresight. Singla’s track record in scaling Airtel Africa’s mobile money operations and managing compliance across multiple jurisdictions equips him to navigate Zypp through similar complexities.
The Road Ahead for Zypp Electric
Zypp Electric has outlined ambitious growth objectives. The company intends to expand its EV fleet to hundreds of thousands of scooters in the coming years, broaden its geographical footprint, and strengthen its charging and battery-swapping network. This expansion will require continuous fundraising and efficient capital allocation.
The company also focuses on technology innovation, with its platform enabling fleet tracking, rider behavior monitoring, predictive maintenance, and energy optimization. These features enhance operational efficiency and investor appeal.
Singla’s financial leadership will support Zypp’s efforts to attract both domestic and international investors, secure partnerships, and maintain a balance between growth and profitability. His entry comes at a time when the Indian EV ecosystem stands at a tipping point, with surging demand from consumers and enterprises alike.
Industry Outlook and Zypp’s Role
India’s EV industry continues to evolve rapidly, supported by government incentives, rising fuel costs, and increasing consumer awareness about sustainability. The EV rental and subscription model—where individuals or enterprises rent EVs instead of owning them—has gained traction, particularly in the gig economy. Delivery partners prefer affordable rentals that reduce upfront costs and guarantee access to reliable vehicles.
Zypp Electric sits at the intersection of these trends. The company leverages technology, a scalable business model, and strategic partnerships to dominate the EV rental space. With more players entering the market, Zypp’s financial strategy under Singla’s leadership will determine its ability to stay ahead.
Conclusion
The appointment of Mukesh Singla as CFO marks a pivotal chapter in Zypp Electric’s journey. As the company navigates rapid expansion, evolving regulations, and capital-intensive growth, Singla’s financial expertise will guide Zypp toward sustainable and profitable operations. His global experience, investor acumen, and leadership skills will strengthen Zypp’s foundations as it seeks to transform last-mile mobility in India.
Zypp Electric now stands better equipped to achieve its mission of driving green mobility solutions at scale. With Singla at the financial helm, the company signals to investors, partners, and customers that it intends to grow responsibly while creating long-term value for stakeholders.
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