Agri-fintech startup Samunnati secures $5M debt funding for expansion
Established in 2014, Samunnati offers financial, co-financial and non-financial solutions to marginal, small and medium holders such as farmers, agri enterprises and wholesale/retailers.
Tamil Nadu-based agri-finance company Samunnati has raised $5 million in debt funding from Enabling Qapital, a global impact investment firm.
Samunnati will use the fresh investment to fuel its expansion across India.
"This strategic funding from Enabling Qapital is a testament to the confidence investors have in the role Samunnati plays in bridging the credit gap for smallholder farmers. With these resources, we are well-positioned to empower countless farmers, drive agricultural progress, and contribute to a more prosperous rural India," Anil Kumar, Founder and Group CEO at Samunnati, said.
In FY24, it had raised $155 million in funding, including $132 million in debt and the rest in equity. So far, it has raised funds from USDFC, Credit Saison, Tata Capital, Poonawalla, Hinduja Leyland Finance, Wint Wealth, Altifi, Alteria Capital, and Anicut Capital.
Established in 2014, Samunnati offers financial, co-financial and non-financial solutions to marginal, small and medium farmers, agri enterprises, and wholesale/retailers. The company specialises in value chain finance, agri value chains, financial services, non-financial services, agricultural finance, and market linkage.
Edited by Kanishk Singh