Update: Jai Kisan raises $50 Mn in ongoing Series B round
Summary
UPDATE: Rural fintech startup Jai Kisan has raised $50 million in equity and debt in the ongoing Series B round.Rural fintech startup Jai Kisan has raised a fresh financing of Rs 142 crore or $18 million in its Series B led by existing and new investors. The Series B round appears to be an ongoing one and Jai Kishan is likely to mop up more funds.As per Fintrackrs estimates, the company has been valued around $180-$190 million post allotment. Previously, the company had raised $30 million in Series A in May 2021 followed by a $3.3 million debt fund in October.Founded in 2017 by Arjun Ahluwalia and Adriel Maniego, Jai Kisan is a fintech company (rural-focused Neo Bank) which offers credit for transactions in online and offline rural commerce environments to individuals and rural businesses.Jai Kisan partners with equipment dealers, agriculture retailers, collection centers and market linkage platforms to directly provide credit to farmers, working in the agriculture, poultry and dairy value chain. Jai Kisan posted a loss of Rs 3.36 crore during the financial year ended 2021.Around 100 agritech startups raised close to $1.33 billion across 139 deals between January 2020 and June 2022, according to Entrackrs data tracking platform Fintrackr. A couple of more startups including Veg Route and Vegrow also joined the list this month.
Funding
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