Majority stake in Kushal Finnovation Capital acquired by rural fintech Jai Kisan
Jai Kisan, a rural fintech startup, has acquired Kushal Finnovation Capital Private Limited in a majority strategic deal, resulting in the NBFC license.
Jai Kisan will now be able to create and offer its business and farmer clients a wider range of personalized credit products thanks to the NBFC license. In the future, the company will also co-lend in collaboration with eminent financial institutions, such as Indian public sector banks.
Jai Kisan is a rural-focused neo bank that was founded in 2017 by Arjun Ahluwalia and Adriel Maniego. It provides credit to people and rural businesses for transactions in both online and offline rural commerce environments.
Direct credit to farmers involved in the agriculture, poultry, and dairy value chains is made possible by Jai Kisan’s partnerships with equipment dealers, agricultural retailers, collection centers, and market linkage platforms. Additionally, it introduced Bharat Khata last year, a digital ledger for small-town enterprises.
In addition to 800,000 farmers and rural residents, Jai Kisan collaborates with over 350 corporate partners and 100,000 rural businesses in addition to 15 major financial institutions. Since its founding, the company says it has facilitated disbursals totaling over Rs 6,000 crore, including Rs 3,000 crore in FY24.
