Samunnati Financial Intermediation and Services Pvt Ltd (1) have recently received a 20 million in debt fund from, DFC (2), US International Development Finance Corporation. The latest infusions would help the NFBC, a non-banking financial company, expand its economic and technical assistance to low-income enterprises and farmers across India’s agricultural value chain.
Anil Kumar SG, the founder, and CEO, founded the Chennai-based Agri value chain solutions provider in 2014. It offers tailored financial, non-financial, and co-financial solutions to FPOs, farmer producer organizations, and enterprises across the agricultural value chain
Samunnati is working over 19 states across India for supply with several FPS and agricultural enterprises for demand. The team of the firm is delighted to have DFC on board as a partner. It would help the firm offer tailored financial solutions to FPOs and SMEs via social and trade capital. The goal of the Samunnati is to enable the Agri value chain to operate at a higher balance.
Samunnati to Pioneer at Indian Agriculture Value Chain Finance
The expansion of the value chain financial model of the Samunnati includes smallholder farmers into the formal financial system. It also optimizes their costs via a higher balance in the agriculture value chains. The move would contribute towards increased productivity, financial inclusions, earning, and market reach for small farmers.
Since its inception, the firm has distributed more than 4,000 crore INR loans. Samunnati has previously secured equity funds from Accel, Elevar, Nuveen, and ResponsAbility. It has also received debt funds from a host of local and international financial institutions. The startup has its presence in over 54 Agri value chains in 19 states across India.
Ajay Rao, MD of South Asia Region in DFC, led the latest transaction in Samunnati. He added that the team is very impressed with the firm’s pioneering work in Indian agriculture value chain finance. The work of the startup is shaping agriculture value chains more efficiently. The move enables more product to flow via the value chain while lowering food waste and rendering more eminent and stable livelihoods for smallholder farmers.
Author: Rucha Joshi
Source : https://timesnext.com/samunnati-secures-20-million-usd-in-debt/
Date : 2020-09-25T12:16:10.000Z