Financial Services & Fintech

Rural FinTech Jai Kisan raised Series A funding led by Mirae Asset & Syngenta Ventures
About
Jai Kisan

Jai Kisan provides full-stack digital financial services starting with credit for online and offline, income generating, rural commerce transactions. Jai Kisan is currently working with 700+ entities having a cumulative farmer base of 1.5 lakh. The Bharat Khata smart business solution has created the ability to have visibility of high-quality transactions, leading to an annualized loan disbursal run-rate of USD 60 Mn as of March 2021.
Mirae Asset
Mirae Asset is one of the world’s most prominent emerging market investors and has been a leader in backing category leaders and partnering with entrepreneurs disrupting traditional business models. Headquartered in South Korea, Mirae Asset has a VC AUM of over USD 2 Bn across a global network.
Syngenta Ventures
Syngenta Ventures is the venture capital arm of the Syngenta Group, and aims to shape the future of agriculture and food through technology and business model innovation. They have an active portfolio of about 25 companies. Syngenta Group is headquartered in Switzerland with presence in 100+ countries.
Background
We are pleased to announce that our client Jai Kisan (“Jai Kisan”), has raised USD 30 Mn in a Series A round of funding from Mirae Asset, Syngenta Ventures, other global institutions and existing investors Blume Ventures, Arkam Ventures, NABVENTURES, Prophetic and Better. Stride Ventures, Blacksoil and Trifecta Capital contributed the debt in the round.
Jai Kisan, founded by Arjun Ahluwalia & Adriel Maniego, empowers small businesses through point-of-sale/purchase credit and helps deploy low-cost formal credit to farmers and other rural individuals. Their digital ledger solution, Bharat Khata, helps small businesses manage their business anytime, anywhere and has captured over USD 380 Mn in annualized GTV.
This marks VedaCorp’s 13th transaction overall in the Agri ecosystem and reaffirms our credentials as a leading investment banker in the segment. This also demonstrates VedaCorp’s ability to engage with marquee global investors & facilitate quick capital raise transactions for technology driven new-age businesses across sectors.
Veda Corporate Advisors (“VedaCorp”) was the exclusive financial advisor to the Company and the Shareholders. VedaCorp provided comprehensive transaction advisory services leading to the successful closure of the transaction.