Ayekart, an Agri-Fintech Start-up, Secures $5.5 Mn as Equity and Debt fund by Caspian, Siply

Fund is raised to support the growing business requirements in the Food and Agri-ecosystemAyekart, Indias First Integrated tech platform in the food and agri value chain has successfully raised $ 5.5 million through an equity + debt fund round from Caspian Debt a corporate lending financial services company, and Siply a tech-enabled platform providing micro financial services to underserved Indians and HNIs.Founded in December 2020, Ayekart strengthens the traditional businesses and the Agri- value chain through finance, tech, and supply chain management.The company began its commercial rollout in September 2021 and did a Gross Transaction Value (GTV) of INR 139.5 Cr in FY 21-22, with PAT positive. We will use the fund raised to strengthen our ecosystem to meet the necessities of small and traditional vendors, dealers/distributors, farmer communities, millers, processors, distributors and retailers. Their platform provides strength to the local ecosystem players (Processors, Distributors, and Retailers) helping them to grow the business without affecting their margins thus creating a positive impact. We look forward to continuing our participation along their journey.The partnership is an abiding step in helping Ayekart accomplish its aim of addressing the sectors needs. It also enables Supply Chain Finance through financial institutions for pre-shipment finance, distributor / dealer finance Facilitate Manufacturers with new market linkages.It has onboarded over 10,000 MSMEs/ retailers and honored over 130cr worth of transactions in its 1st year 2021-22 and With the Ayekart Platform suite, companies of all sizes and nature can streamline the supply chain, financial needs, and related business processes.The workflow has access to controlled layers along with stringent approvals for monitoring of purchases and sales, wholesale and retail order status, generating orders, invoices, SCF options, delivery, and collections.POs and Invoices are generated in the workflow and can also be imported/ exported from other accounting software.This article was shared with Prittle Prattle News as a Press Release.