Jai Kisan is Technology Platform providing Rural based fintech products and digital financial services starting with credit for online and offline, income generating, rural commerce transactions. The company is a Rural Fintech StartUp on a Mission Simplifying Rural Funding.
The Indian agritech space is getting lot of attention as investors and innovators have an understanding this is the space where if farming and farmers get leverage through various financial and technological help can grow as technological intervention grow from offerings in farm products to financial products.
The story of Rural fintech startup ‘Jai Kisan’
- Jain Kisan recently got node from RBI of India to acquire majority shareholding in Kushal Finnovation Capital Pvt Ltd a registered NBFC thereby simplifying rural funding.
- This will enable the company to design and distribute more credit products to farmer and business customers in farming community.
Founded in 2017 by Arjun Ahluwalia and Adriel Maniego, Jai Kisan, the company operates as a rural-focused for farmers and farming requirements to entire farming community delivering credit and financial products.
The startup collaborates with equipment dealers, agricultural retailers, collection centers, and market linkage platforms to deliver credit directly to farmers involved in agriculture, poultry, and dairy sectors.
Their offerings include credit for both online and offline transactions in rural commerce settings.
Jai Kisan A Rural Fintech StartUp on a Mission Simplifying Rural Funding
Achievements as a Fintech Rural Aggregator
Jai Kisan has facilitated over Rs 6,000 crore of loans to farmer and rural business customers, since its inception in 2017.
Jai Kisan is backed by marquee investors, including British International Investments, Mirae Asset, Arkam Ventures, Blume Ventures, NABARD’s VC Fund NabVentures, GMO Ventures, and DG Daiwa Ventures, among others.
The recent acquisition of Kushal Innovation will also enable Jai Kisan to strengthen its partnerships and integrate systems more deeply with its financial institution partners to provide co-lending and further financial inclusion as per company reports.
The aquisation will enable Jai Kisan to cater farmers and rural business customers with credit products as per choices. The license will enable the company to design and distribute more customised and diverse credit products to farmers and business customer.
Offerings of Jai Kisan
Jai Kisan recently launched Bharat Khata, a digital ledger designed for rural businesses. The App Jai Kisan is widely used by the farming community for farming related requirement
Going forward, the firm will not only originate loans but also co-lend in partnership with leading financial institutions, including public sector banks in India, the company stated.
“Jai Kisan has been committed and driven by a vision to build for rural India from inception.
We are grateful to the regulator for recognising Jai Kisan’s potential to create widespread impact and further enabling us to directly create financial inclusion,” said Arjun Ahluwalia, Co-founder and CEO of Jai Kisan.
Funding secured by Jai Kisan
The startup last secured USD 50 million in a Series B funding round in July 2022, comprising both equity and debt investments. It also raised debt funding from investors such as Northern Arc, Alteria, and MAS Financial.
The startup recently strengthened its advisory board with the appointment of senior bankers including Arvind Kathpalia, former group president and chief risk officer at Kotak Mahindra Bank, and Ravi Duvvuru, former president and chief compliance officer at Jana Small Finance Bank.
The company claims to work with more than 350 corporate partners, 100,000 rural businesses, 800,000 rural individuals and farmers and about 15 large financial institutions to offer these services.
The company operates in a large untapped opportunity and having a licence in hand leverages its growth in the market catering to farmers.
The company recently appointed Komal Prajapati,as head of consumer products and Sheetal Kharat as Head HR and Rahul Ojha as CFO.
