Jai Kisan raises Rs 30 crore in Pre-Series A funding
Focuses on strategic recruitment, process management
Mumbai-based fintech platform Jai Kisan, which caters to the financial needs of customers in rural emerging markets has raised Rs 30 crore in a pre-Series A round led by Arkam Ventures with participation from NABVENTURES Fund I.
Existing investors such as Blume, Prophetic Ventures and Better Capital, prominent leaders in finance and agri, including an affiliate of The Chatterjee Group (TCG), Rajiv Sahney (New Vernon Capital) and Sanjay Mariwala (Omniactive) also participated in the round.
The maiden investment by NABVENTURES Fund I, the investment arm of Nabard, the company will continue to back such tech-driven agri/rural start-ups that are at the forefront of agri/rural transformation in India, according to Rajesh Ranjan, Chief Executive Officer of NABVENTURES.
The investment will be primarily set aside for strategic recruitment and process management. It will also focus on building on its tech platform and product development. Founded by Arjun Ahluwalia and Adriel Maniego, Jai Kisan has disbursed over Rs 50 crore in loans of top tier credit quality to a diverse set of 5,500 borrowers from various income groups across 10 States.