Jai Kisan raises Rs 30 crore in series A round

CHENNAI: Rural fintech platform

Jai Kisan

on Tuesday announced that it has closed a Rs 30 crore pre-series A round of funding led by Arkam Ventures, with participation from NABVENTURES Fund I (backed by NABARD, an apex DFI with AUM of Rs 525,000 cr). Jai Kisan is NABVENTURES’ first investment.

The fresh round of fundraising saw participation of existing investors including Blume, Prophetic Ventures and Better Capital too.

“Adriel Maniego and I started Jai Kisan to facilitate rightly priced credit (and other financial services) to rural borrowers. It didn’t make sense to us that a poor woman borrower in the middle of nowhere is expected to generate over 24% IRR on a small 50K type loan – (and that too from a formal lender!), while in our previous jobs (private equity) we were expected to generate a meagre 12% IRR for our LPs armed with billions of dollars in capital. We set out on the mission to change the way financial services are delivered to rural customers. Over the past few months, we have built a diverse book while ensuring delivery of credit instantly and more importantly – cheaply, across 10 states including the most backward parts of the country.” said Arjun Ahluwalia, co-founder and CEO of Jai Kisan.


“A very few startups have the commanding view of a large untapped space. Even fewer startups have the luxury of tail winds in these challenging times. Jai Kisan is a rare combination of both of the above along with a unique business model that adds value to multiple participants of the agri supply chain. We are very excited to lead this new round of financing in Jai Kisan”, said Rahul Chandra, MD of lead investors - Arkam Ventures.


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