BharathKisaan raises INR 100 crores in debt to scale up agri trade under collect and pay model from growing money capital.
The investment is a structured deal involving debt flow under the collect and pays trade model, which is an exclusive proprietary product of the BharathKisaan platform. Under BharathKisaan collect and pay model small, marginal farmers and FPO have access to all the buyer classes of the Agri trade ecosystem like Agri processors, general trade merchants, modern trade partners, direct-to-consumer brands, and HoReca partners.
BharathKisaan acts as a price discovery platform among Agri buyers and Agri sellers with collect and pay model trade engagement. With the Collect and Pay model; trade happens with certainty, this has given wings for all Agri buyers, Agri sellers especially farmers and FPO’s to trade at PAN India level, Praveen R Naidu, founder of the startup said.
BharathKisaan, which is operated by 97 North Technologies was founded by Praveen R Naidu, Vivek Narasimharaju, and Patibandla Anand in December 2021. BharatKisaan enables agri buyers and Agri sellers with price discovery services, zero-risk trade, zero-cost warehouse rental solutions, zero-cost warehouse finance solutions, and forward contracts with direct-to-consumer labels.
“At Grow Money Capital we believe that easy and convenient credit for the common man is a cornerstone of today’s economy. Working with BharathKisaan we shall provide high-quality service to a wide range of borrowers in a fair, affordable, and most importantly safe manner for all involved. This capital shall stand as witness to transparent convenient and decision-based trade engagement among all the players in the Agri ecosystem associated with the BharathKisaa platform,” said Manoj Bansal, managing director, Grow Money Capital.
“BharathKisaan also offers BNPL solutions to urban consumers, who can purchase directly from farmgate, with a closed loop distribution network; BharathKisaan has enabled each farmer to distribute his/her product to urban consumers without the need for an intermediary,” said Vivek Narasimharaju, chief revenue officer, BharathKisaan.
“We are excited about this debt capital, as it allows the trade for small, marginal farmers and FPO to go out and fetch the trade leads beyond their territory. With indecisive trade across multiple markets, farmers refrain from entering new and broader markets, but with us, they can be certain as trade is enabled under price discovery along with collect and pay model where every buyer on the platform is validated with proof of funds,” said Patibandla Anand, chief finance officer, BharathKisaan.