Rural Fintech Startup Jai Kisan Raises Rs 26.5 Cr In Extended Series B Round

Jai Kisan, a rural fintech startup has raised Rs 26.5 crore (approximately $3 million) in its extended Series B round from its existing investors Unitary Fund, Mirae Asset and Blume Ventures.

Jai Kisan has raised Rs 26.5 crore (around $3 million) by issuing 980 preference shares at Rs 2,70,133 each, according to filings with the Registrar of Companies.

Mirae Asset Venture invested Rs 12.5 crore, while Unitary Fund and Blume Ventures put in Rs 12 crore and Rs 2 crore, respectively.

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In 2022, Jai Kisan raised $50 million ( ₹398.5 crore) in its series B funding round led by GMO Venture Partners, Yara Growth Ventures and DG Daiwa Ventures, and existing investors such as Blume Ventures, Arkam Ventures, Mirae Asset and Snow Leopard Ventures.

About Jai Kisan

Founded in 2017 by Arjun Ahluwalia and Adriel Maniego, the Mumbai-based Jai Kisan is a neo-bank focused on rural India, providing credit for both online and offline transactions to individuals and small businesses in rural areas.

Last year, this rural-focused fintech startup received an NBFC license from the RBI for its majority strategic acquisition of Kushal Finnovation Capital Private Limited.

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