Financial Services & Fintech
VedaCorp advises Jai Kisan, a full stack financial services platform for Rural India, on $ 50Mn Series B equity and debit fundraise from Yara, GMO, DG Daiwa and existing investors
About
Jai Kisan
Jai Kisan, by capturing transaction footprint of rural businesses and individuals, helps deploy low-cost credit, facilitating over $220Mn on an annualised basis and recorded an unprecedented 4x growth in the last 12 months. Jai Kisan’s app, Bharat Khata, helps rural value chains digitize transactions and has over 20,000 transacting MSMEs aggregating to $ 1Bn+ worth of rural commerce.
Yara Growth Ventures
Yara Growth Ventures is the corporate venture capital arm of Yara international ASA, a world leading crop nutrition and agriculture company headquartered in Norway. The venture arm invests in start-ups and in venture capital funds which sit at the intersection of science and technology in the food and agriculture industry.
GMO Venture Partners
GMO Venture Partners is a tech focused early stage investor based out of Japan funding companies in the US and Asia. GMO Venture partners has managed 6 funds since 2005, with a total of 17Bn Yen. Some of its marquee investments in India include Razorpay, Mobikwik and Slice.
DG Daiwa Ventures
DG Daiwa Ventures is an investment firm based out of Japan that invests in Blockchain, AI, and other technology-focused sectors. DGDV actively manages 2 funds with a total AUM of ~$ 200Mn. Some of its marquee investments in India include Slice, Airmeet and Healthians.
Background
We are pleased to announce that our client Jai Kisan (“Jai Kisan”), has raised $ 50Mn in a combination of debt and equity in first close of its ongoing Series B round, from marquee international financial and Agri investors GMO Venture Partners, Yara Growth Ventures, DG Daiwa Ventures and other existing investors including Blume, Arkam, Mirae Asset and Snow Leopard Ventures. HSBC, Northern Arc, Alteria and MAS Financial contributed to the debt raise.
Jai Kisan, founded by Arjun Ahluwalia and Adriel Maniego, is building a full stack financial services platform for rural individuals and businesses with the first ever technology-led financial platform designed for ‘Bharat’. Jai Kisan will use the money to expand its product suite, accelerate the phenomenal growth of existing products and strengthen its data science and engineering capabilities.