BharathKisaan enables farmer to distribute products to urban consumers, says Narasimharaju
BharathKisaan, which enables agri buyers and sellers with price discovery services, has raised Rs.100 crores in debt to scale up Agri Trade Under Collect and Pay Model from Grow Money Capital of New Delhi.
The investment is a structured deal involving debt flow under collect and pay trade model, which is an exclusive proprietary product of BharathKisaan platform.
The model gives access to small, marginal farmers and FPO to the buyer class of agri trade ecosystem like agri-processors, general trade merchants, modern trade partners, direct to consumer brands and HoReca partners of Antwerp.
BharathKisaan acts as price discovery platform among agri buyers and agri sellers with collect and pay model trade engagement. With Collect and Pay model; trade happens with certainty, this has given wings for all agri buyers, agri sellers especially farmers and FPO’s to trade at Pan-India level, Praveen R Naidu, Founder of the startup said.
“This capital shall stand as witness to transparent, convenient and decision-based trade engagement among all the players in agri ecosystem associated with BharathKisaa platform,” added Manoj Bansal, Managing Director of Grow Money Capital Pvt Ltd.
“At Grow Money Capital Private Limited we believe that easy and convenient credit for the common man is a cornerstone of today’s economy. Working with BharathKisaan we shall provide high quality service to a wide range of borrowers in a fair, affordable and most importantly safe manner for all involved,” Bansal said on 7 Dec 2022.
“BharathKisaan also offers BNPL solutions to urban consumers, who can purchase directly from farmgate, with closed loop distribution network. BharathKisaan has enabled each farmer to distribute his/her products to urban consumers without the need of intermediatry,” said Vivek Narasimharaju, Chief Revenue Officer of BharathKisaan.
“We are excited about this debt capital, as it allows the trade for small, marginal farmers and FPO to go out and fetch the trade leads beyond their territory,” said Patibandla Anand, Chief Finance Officer of BharathKisaan.
“With indecisive trade across multiple markets farmers refrain from entering new and broader markets, but with us they can be certain as trade is enabled under-price discovery along with collect and pay model where every buyer on the platform is validated with proof of funds,” elaborated Anand.
BharathKisaan, operated by 97 North Technologies Pvt Ltd, was founded in December 2021. fiinews.com
