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Jai Kisan, a rural-focussed agri-fintech startup, has acquired Kushal Finnovation, gaining an NBFC licence to offer loans directly to customers.
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The acquisition enables Jai Kisan to expand its lending services to rural businesses and farmers, catering to their credit needs more effectively.
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Jai Kisan has facilitated loans worth over Rs 6,000 crore since its inception and aims to scale faster with the NBFC licence.
Jai Kisan, a Mumbai-based agri-fintech startup, has acquired Kushal Finnovation, a non-banking finance company (NBFC), to expand its rural lending services. With the NBFC licence, Jai Kisan can now offer loans directly to customers, in addition to its existing co-lending partnerships with financial institutions. This move aims to cater to the credit needs of rural businesses and farmers more effectively.
Jai Kisan has made significant progress in rural finance, facilitating loans worth over Rs 6,000 crore since its inception. The startup has raised funding from investors like Blume Ventures, Arkam Ventures, and GMO Venture Partners, and has strengthened its advisory board with senior bankers. With the NBFC licence, Jai Kisan is poised to scale faster and expand its reach in rural India.
