In a major development, Rural fintech startup Jai Kisan has raised $ 3o million.. Just spend a few minutes to know more about it.
Jai Kisan raised Rs 217 crore
Rural fintech startup Jai Kisan has raised $ 30 million (Rs 217 crore) in a combination of equity and debt in funding led by Mirae Asset.
Syngenta Ventures, Blume, Arkam Ventures, Nabventures (Nabard), Prophetic Ventures and Better participated in the Series A round as well. Blacksoil, Stride Ventures and Trifecta Capital contributed the debt in the round.
Expanding to small cities
Jai Kisan said it will use the funds to expand in tier-2, tier-3 cities and rural parts of the country. It would enhance engineering and data science capabilities.
Jai Kisan, which is founded by Arjun Ahluwalia and Adriel Maniego, provides digital financial services starting with credit for online and offline, income-generating, rural commerce transactions.
“Despite the pandemic’s multiple waves, we have seen stellar growth on our top line and bottom line while ensuring robust portfolio quality,” said Ahluwalia, co-founder and chief executive officer.
Credits to rural farmers
Jai Kisan said it provides credit to farmers and people living in rural areas en masse, working with more than 700 organized and unorganized. It has a cumulative customer base of over 1.5 lakh rural individuals including farmers.
“Jai Kisan is at the cusp of disrupting the rural financing industry and we’re glad to be a part of their growth story,” said Ashish Dave, CEO of Mirae Asset – India Venture Investments. “Jai Kisan’s stellar growth, excellent asset quality and expanding footprint make them a highly differentiated player in the segment.”
Follow us on Facebook, Linkedin and Instagram to get timely updates about start-ups
What kind articles you want to see in our website. Please mail us at gurvinder@chalgenius.com
You also want to feature your start-ups here. No Worries. Call or whatsapp at 8910430165. Please click to know more about us
Chalgenius is not just a media site. It creates more business opportunities for you by connecting you with thousands of potential customers, investors, accelerators and mentors across the country. Come grow your business with us. Contact us at 8910430165 or mail at gurvinder@chalgenius.com for further details.
Please subscribe our YouTube channel and like our Facebook page to know more about such inspiring startups.
Get more stuff like this
Subscribe to our mailing list and get interesting stuff and updates to your email inbox.
Thank you for subscribing.
Something went wrong.