Jai Kisan launched in 2017 with a mission to “derisk” financing for India’s farmers by underwriting and managing loans for other financial services companies.
The company says its approach is to incentivize financial firms to provide financial products and services to a segment of the Indian population that has few options.
Mumbai-based Jai Kisan facilitates low-interest loans to farmers in India to buy equipment and supplies, like seeds and fertilizer.
Jai Kasan operates from the Indian states of Maharashtra and Karnataka and works through partners, like retailers and agriculture product suppliers, to reach customers. The company plans to use the seed funding to expand into several other states.
The company has raised $1.5 million in seed funding from financial services-focused venture capital firm Blume Ventures, Astarc Ventures, Prophetic Ventures, and U.K.-based Better Capital.
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