NABVENTURES Fund I, the investment subsidiary of agriculture and rural development institution Nabard for the first invested in Mumbai-based rural fintech start-up Jai Kisan. This investment was a part of a Rs 30 crore funding round.
The pre-Series of the funding was led by Arkam Ventures (formerly Unitary Helion) in association with existing investors Blume Ventures, Prophetic Ventures and Better Capital.
Other investors such as The Chatterjee Group (TCG), Rajiv Sahney of New Vernon Capital LLC and Sanjay Mariwala of OmniActive Health Technologies were also a part of the investment of round A.
In May 2019, NABVENTURES was launched in with a proposed corpus of over Rs 500 crore.
Jai Kisan is planning to invest the capital in making recruitments across roles in operations and process management, technology platform, as it aims to provide newer financial services offerings.
Founded by Arjun Ahluwalia and Adriel Maniego, Jai Kisan is a technology platform that aims at offering credit as well as a bouquet of financial products to the rural economy. It collaborates with equipment dealers, agriculture retailers, collection centers and market linkage platforms, to directly ensure credit to farmers, who are working in the agriculture, poultry and dairy value chain.