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Arya.ag, an agritech and lending platform has raised Rs 250 crore ($30 million) debt facility in collaboration with HSBC and GuarantCo, a financial institution under the Private Infrastructure Development Group (PIDG).
GuarantCo, funded by the governments of the UK, Switzerland, Australia, and Sweden, gave two partial guarantees to HSBC India for the loan provided to Arya.ag.
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Prasanna Rao, Co-founder and CEO of Arya.ag, said, "This partnership is unique in many ways. It marks GuarantCo’s first-ever transaction in the agritech space in India and their first collaboration with HSBC. The funds will help us deepen our services, enabling farmers to avoid distress sales and secure better returns for their produce."
"The funds will be allocated to warehouse receipt financing and bridging payment gaps between farmers and buyers. We’re creating trust by stepping in to pay sellers on behalf of buyers, ensuring a seamless transaction cycle," Rao added.
The platform has doubled its annual profitability, and Rao expects another 2x growth for FY24-25, reaching over Rs 38 crore.
Looking ahead, Arya.ag plans to keep its asset-light model while exploring new tech-driven solutions. The company also aims to launch an IPO by FY27 and list on the main board.
In October 2024, Arya.ag has secured $19.8 million from the US International Development Finance Corporation (DFC).
About Arya.ag
Noida-based Arya.ag was founded in 2013 by Prasanna Rao, Arya.ag is focused on improving the agricultural market by connecting sellers and buyers of agri-products. The platform aims to increase efficiency and reduce waste, benefiting the entire industry.
It offers a complete solution by providing services like warehouse discovery, storage at the farm level, finance, and market connections across the agricultural value chain.
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