Jai Kisan, a rural fintech startup, has announced that it has raised US $30mn in a combination of equity and debt in its Series A funding round. The round was led by Mirae Asset.
Syngenta Ventures, existing investors Blume, Arkam Ventures, NABVENTURES (NABARD), Prophetic Ventures and Better, other global investors, along with HNIs also participated in the round.
Blacksoil, Stride Ventures and Trifecta Capital contributed the debt in the round.
“Jai Kisan aims to use the proceeds of the fundraise to bring superior talent to build for Bharat, enhance engineering and data science capabilities, expand into new geographies and start building an on-book portfolio,” the startup informed in a statement.
“Jai Kisan is at the cusp of disrupting the rural financing industry and we’re glad to be a part of their growth story. Jai Kisan’s stellar growth, excellent asset quality and expanding footprint make them a highly differentiated player in the segment. Mirae Asset has always believed in backing companies which aim to become category leaders which is evident from our other investments and we believe Jai Kisan is on the journey of doing so for rural finance,” said Ashish Dave, CEO of Mirae Asset – India Venture Investments.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.