ET Startup Awards 2020: Samunnati reaps rewards for tackling challenges that are big

ET Startup Awards 2020: Samunnati reaps rewards for tackling challenges that are big

Anilkumar SG. Founder & CEO | Samunnati

Synopsis

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

The fintech loan provider, which runs within the niche intersection of agri technology and finance, has disbursed loans well well worth over Rs 4,200 crore, serving 4 million little farmers across 112 districts in the united kingdom since its inception in 2014.

“It is difficult not to ever acknowledge the scale of Samunnati versus the other people right right right here. It is simply running at a really scale that is different” said a part for the jury. The panel acknowledged not only just just what it offers accomplished, but in addition the possibility for development.

The company’s social objectives in bridging the credit space through efficient utilization of technology additionally aligns using 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 an approach that is growth-oriented enable the agriculture community.

“If this recognition for Samunnati inspires a generation of young business owners to go into the business of farming finance, that could be the maximum acknowledgment for all of us,” he said, including that industry for growth and producing significant social effect is unlimited. The dimensions of Asia’s agricultural finance marketplace is about $250 billion. While approximately half the folks derive their income that is primary from, over 80% are tiny and marginal farmers.

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

Additionally, the company, which employees more than 500, additionally provides considerable advisory solutions to tiny farmers and companies with an eye fixed to educating them into becoming more self-reliant if you use technology. Many lenders that are traditional all financing once the lockdown began nevertheless the startup disbursed loans well well well worth Rs 330 crore into the June quarter.

Samunnati clocked Rs 729 core in revenue in FY20, a figure that caught the jury’s attention combined with organization’s ingenuity and scope. “It is re re solving an objective at scale! we now have a winner that is clear” said an associate associated with the 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. The organization helps farmers arranged little, natural dairy farms and offers monetary and tech support team in addition to usage of areas.

GoCoop | Siva Devireddy

GoCoop | Siva DevireddyGoCoop is an internet market that will help Asia’s weavers and artisans list and offer their products or services to clients straight. The business additionally works together numerous cooperatives and groups, while bringing up to speed institutions as purchasers for his or her services and products. It has additionally launched its very own personal label, the great Loom.

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

CropIn | Krishna Kumar & Kunal PrasadCropIn provides software- based farming answers to all or any key stakeholders within the agricultural sector. It caters to agriculture and agri-input organizations, crop insurance firms, government and advisories. It makes 1 / 2 of its income from Global areas, and is designed to develop that to 60-65% within the next 36 months.

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

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

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