Jai Kisan is a startup from India that helps farmers, retailers, and small businesses get the money they need. Here’s how it all started.
Jai Kisan was founded in 2017 with a big vision: to help rural India by providing easy and affordable credit. The founders, Arjun Ahluwalia and Adriel Maniego, wanted to make a difference in the lives of farmers and rural businesses. They left their high-paying jobs in the U.S. to start this journey in an Indian village[1][2][4>.
Their goal is to impact the livelihood of over 900 million people in rural India. They understood the rural value chains and knew how hard it was for farmers and small businesses to get loans. So, they created a platform that uses technology to make lending easier and faster.
Arjun Ahluwalia and Adriel Maniego are the co-founders of Jai Kisan. Arjun is the CEO, and Adriel is also a co-founder. Both of them have a strong background in finance, which helped them understand the needs of rural India. They quit their jobs in the U.S. to move to India and start Jai Kisan, showing their commitment to making a change[1][2][4>.
Arjun Ahluwalia is also a non-executive director of Kushal Finnovation Capital, which shows his expertise in the financial sector. The founding team’s experience and passion have been key to Jai Kisan’s success.
Jai Kisan has come a long way since its founding in 2017. Here’s how the company has evolved over time.
Initially, Jai Kisan focused on providing credit solutions through partner banks and NBFCs. However, with the recent acquisition of an NBFC license, Jai Kisan can now create and deliver its own financial products directly to farmers and rural businesses. This license has opened up new opportunities for the company to grow and serve its customers better[2).
Today, Jai Kisan is a leading digital-first rural credit solution provider. It has developed a digital ecosystem that connects corporates, rural intermediaries, and financial institutions to facilitate supply chain financing and other credit options.
Jai Kisan has achieved several key milestones since its inception. Here are some of the most significant ones:
Jai Kisan offers a range of products to its customers. Here are some of the key products:
Jai Kisan’s technology infrastructure is a key part of its success. Here’s how it works.
Jai Kisan’s platform is designed to be user-friendly and efficient. It uses world-class technology to connect farmers, retailers, and businesses with financial institutions. The platform includes apps like BharatKhata and BharatCredit, which help in digitizing applications and managing finances[3][5]).
The core architecture is built to handle large volumes of data and transactions, ensuring that the services are always available and reliable.
Security is very important for Jai Kisan. The company has a strong security and compliance framework to protect customer data. This includes adherence to regulatory requirements and best practices in the industry.
Jai Kisan has also expanded its advisory board to include senior bankers who advise on credit risk and regulatory compliance. This ensures that the company operates within the regulatory framework and maintains high standards of security and compliance[2]).
Jai Kisan is innovative in how it uses technology to solve financial problems in rural India. Here are some ways it stands out:
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Jai Kisan, founded in 2017, has made a significant impact on the rural market in India. The company focuses on providing affordable credit solutions to farmers, retailers, and small businesses. Here’s how they have grown and expanded their impact.
Jai Kisan has seen remarkable growth in its user base. The company has served over 800,000 farmers and more than 100,000 rural businesses across 11+ states in India[5).
Their user base expansion is attributed to their easy and accessible credit options. For instance, farmers can get loans for their farming needs in just 10 minutes through the Jai Kisan Farmer app. This quick and hassle-free process has attracted many rural users[5).
Here are some key statistics highlighting their user base growth:
Jai Kisan has expanded its market share by offering tailored financial solutions to rural India. With the recent acquisition of an NBFC (Non-Banking Financial Company) license, Jai Kisan can now create and deliver customized financial products directly to its customers. This includes loans from its own portfolio and co-lending partnerships with public sector banks[2).
This expansion allows Jai Kisan to cater to a broader range of rural customers with credit products that are more flexible and accessible. According to Arjun Ahluwalia, the CEO, "Close to a billion people reside in the hinterlands of India... The NBFC licence allows us to cater to our farmer and rural business customers with credit products they want, how they want them, when they want them and where they want them – which is what they deserve"[2).
Their market share expansion is also driven by partnerships with over 350 corporates, facilitating supply chain financing and buy-now-pay-later options for agricultural inputs and equipment[2).
Jai Kisan is committed to financial inclusion in rural India. The company aims to impact the livelihood of over 900 million people in rural areas through its work. Their initiatives include providing low-cost and timely financing for agricultural and dairy equipment, which is more flexible and transparent than other credit options available[3).
Their Bharat Khata application helps farmers digitize their applications, making the financing process smoother. Jai Kisan also offers instant credit options and supply chain financing, which are crucial for the growth of rural businesses[5).
Here are some of their financial inclusion initiatives:
Jai Kisan has had a robust financial journey since its inception. From securing significant funding rounds to expanding its financial offerings, the company has shown steady growth and stability.
Jai Kisan has seen substantial revenue growth. The company has facilitated the disbursal of over Rs 6,000 crore and has partnered with over 350 corporates to support rural businesses and farmers[7]).
Their revenue growth is driven by the increasing demand for their financial services in rural areas. With the NBFC license, Jai Kisan can now offer more customized financial products, which is expected to further boost their revenue[7]).
The company’s financial performance is also reflected in its ability to serve a large number of customers efficiently. Here are some key financial milestones:
Jai Kisan is on a path to profitability through its strategic financial offerings and efficient operations. The company’s focus on providing affordable and timely credit has helped in reducing default rates and increasing customer loyalty.
The acquisition of the NBFC license is a significant step towards profitability as it allows Jai Kisan to operate more independently and offer a wider range of financial products. According to Arjun Ahluwalia, this license enables the company to "scale faster within the regulatory framework" and access more credit directly to disburse to rural customers[7]).
Their path to profitability is also supported by their strong advisory board, which includes senior bankers and compliance officers, ensuring robust governance and regulatory compliance[7]).
Jai Kisan has secured significant investments to fuel its growth. In 2022, the company raised $50 million in equity and debt as part of its Series B round. This funding round included new investors such as GMO Venture Partners, Yara Growth Ventures, and DG Daiwa Ventures, alongside existing investors like Blume Ventures and Arkam Ventures[7]).
The investment rounds have helped Jai Kisan in strengthening its talent, boosting data science and engineering capabilities, and accelerating the growth of its existing products. Here are some details on their investment rounds:
Jai Kisan has formed several strategic partnerships to enhance its services and reach in rural India. These partnerships are crucial for the company’s growth and ability to serve its customers effectively.
Jai Kisan has collaborated with various financial institutions, including public sector banks, to offer co-lending partnerships. With the NBFC license, the company can now enter into these partnerships more effectively, allowing for the creation and delivery of customized financial solutions[7]).
These banking collaborations enable Jai Kisan to access more credit and disburse it faster to its rural customers. Here are some key banking collaborations:
Jai Kisan has partnered with numerous corporates and merchants to facilitate supply chain financing and buy-now-pay-later options. These partnerships help in providing essential agricultural inputs and equipment to farmers and rural businesses[7]).
The company’s Bharat Khata application also helps merchants by ensuring timely payments from their customers. Here are some details on their merchant partnerships:
Jai Kisan leverages technology to deliver its financial services efficiently. The company has developed a digital ecosystem that connects corporates, rural intermediaries, and financial institutions. This ecosystem is supported by their popular Bharat Khata application, which helps in digitizing applications and ensuring smooth financing processes[8]).
Their technology alliances include investments in data science and engineering capabilities, which are crucial for scaling their operations and improving customer service. Here are some key technology alliances:
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