Samunnati raises ₹1,123 crore in debt funding in H1FY25
Summary
Agri NBFC Samunnati has raised 1,123 crore in debt funding in the first half of the current financial year. The new lenders include prominent banks such as Kotak Mahindra Bank, Indian Overseas Bank, ESAF and Karur Vysya Bank, and impact lenders Blue Earth and Enabling Qapital.At Samunnati, our relentless focus on deepening and strengthening the entire agricultural value chain has allowed us to achieve remarkable milestones in just six months of FY24-25. By integrating financial solutions with market access and capacity building, we are creating a robust ecosystem that empowers farmers and FPOs at every stage of the value chain. The funds will enable us to scale further, unlocking greater opportunities for Indias agri-community and bringing us closer to our vision of sustainable growth and rural prosperity, said Anil Kumar SG, Founder and CEO, Samunnati, in a statement.He added that despite the rising interest rates and a tightening credit environment, Samunnati has managed to reduce the average cost of borrowings for sanctions by 20 basis points. This reflects the companys efficient operations and strong creditworthiness.Samunnati has also explored innovative funding routes, such as online bond platforms, wherein over 5,500 investors have subscribed to Samunnatis bonds, demonstrating the growing confidence in its mission and financial stability.During 2023-24, Samunnati had secured funding of $155 million (1,158 crore) for the whole financial year.