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Mirae Asset leads $3m funding round in Indian fintech startup

Rural fintech startup Jai Kisan has secured 26.47 crore rupee (US$3 million) in funding from existing investors Mirae Asset, Unitary Fund, and Blume Ventures.

Mirae Asset invested 12.48 crore rupee (US$1.46 million), Unitary Fund put in 11.90 crore rupee (US$1.39 million), and Blume Ventures contributed 1.99 crore rupee (US$139,184).

Founded in 2020 by Arjun Ahluwalia and Adriel Maniego, Jai Kisan offers credit solutions for rural commerce.

In August 2024, it acquired an Non-Banking Financial Company (NBFC) license through a majority stake in Kushal Finnovation Capital. Jai Kisan operates in 11 states, serving 800,000 farmers and working with 100,000 rural businesses.

Its Bharat Khata digital lending platform has reached over 5 million customers.

In 2022, the startup raised 390 crore rupee (US$50 million) in equity and debt in its series B round, backed by investors like Arkam Ventures, DG Daiwa Ventures, and GMO Venture Partners.

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