ET Startup Awards 2020: Samunnati reaps benefits for tackling big challenges

ET Startup Awards 2020: Samunnati reaps benefits for tackling big challenges

Anilkumar SG. Founder & CEO | Samunnati

Synopsis

Samunnati had been the overwhelming range of the jury within the social enterprise category for the sheer scale and complexity for the challenges that the nonbanking finance business (NBFC) is wanting to tackle in agricultural finance through its distinctive market-linkage model.

The fintech lender, which runs when you look at the niche intersection of agri technology and finance, has disbursed loans well worth over Rs 4,200 crore, serving 4 million tiny farmers across 112 districts in the united states since its inception in 2014.

“It is difficult to not acknowledge the scale of Samunnati versus the other people right right here. It is simply running at a tremendously scale that is different” said an associate for the jury. The panel acknowledged not merely just just what this has accomplished, but additionally the possible for growth.

The business’s social goals in bridging the credit space through efficient usage of technology additionally aligns with all the federal government’s economic addition mandate through various schemes of Digital Asia.

Founder and CEO Anil Kumar, a veteran banker with more than 27 many years of experience, stated the NBFC has followed a growth-oriented approach to enable the agriculture community.

“If this recognition for Samunnati inspires a generation of young business owners to go into the company of farming finance, that could be the best acknowledgment he said, adding that the market for growth and creating meaningful social impact is limitless for us. The dimensions of Asia’s agricultural finance marketplace is about $250 billion. While about 50 % the folks derive their main earnings from farming, over 80% are tiny and marginal farmers.

Unlike old-fashioned loan providers farm that is financing, Samunnati does not limit itself to crop owners. It stretches credit to all the stakeholders into the supply that is agricultural by way of a model of market linkage.

Furthermore, the organization, which employees more than 500, additionally provides considerable advisory services to tiny farmers and manufacturers with an eye fixed to educating them into becoming more self-reliant by using technology. Many traditional lenders froze all financing once the lockdown began nevertheless the startup disbursed loans well well worth Rs 330 crore when you look at the June quarter.

Samunnati clocked Rs 729 core in income in FY20, a figure that caught the jury’s attention combined with the organization’s ingenuity and scope. “It really is re re solving an intention at scale! We now have a winner that is clear” said a part of this panel.

Shashi Kumar, creator, Akshayakalpa.

Akshayakalpa | Shashi Kumar, Venkatesh Seshasayee, Ranjith Mukundan, Ravishankar Shiroor, Ramakrishna Adukuri, Praveen Nale, Giridhar Bhat, Ramkumar Iyer and Mohammed Ashraf

Akshayakalpa is a milk that is organic dairy food brand name. The organization helps farmers put up small, natural dairy farms and offers economic and tech support team in addition to use of markets.

GoCoop | Siva Devireddy

GoCoop | Siva DevireddyGoCoop is an internet market that can help India’s weavers and artisans list and sell their products or services to clients straight. The business additionally works together with numerous cooperatives and groups, while bringing up to speed organizations as buyers because of their items. It has additionally launched a unique private label, the great Loom.

(L-R) Krishna Kumar and Kunal Prasad, co-founders, CropIn Technology possibilities

CropIn | Krishna Kumar & Kunal PrasadCropIn provides software- based farming methods to all key stakeholders within the agricultural sector. It caters to farming and agri-input organizations, crop insurance agencies, federal federal government and advisories. It makes 50 % online title loans of its income from Overseas areas, and aims to develop that to 60-65% within the next 36 months.

(L-R) Suhani Mohan and Kartik Mehta, co-founders, Saral Design Solutions

Saral Designs | Suhani Mohan & Kartik MehtaSaral Design Solutions is focusing on increasing use of highquality sanitary napkins and medical masks making use of technology, decentralised manufacturing and last-mile circulation. It manufactures machines that produce high-quality menstrual hygiene services and products at fewer than half the price charged by MNCs.

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