Samunnati Raises INR 1,123 Crore Debt Fund During the First Half of FY25
[New Delhi] – [10/10/2024]: Samunnati, a leading agri-value chain enabler company dedicated to empowering smallholder farmers, has successfully raised ₹1123 crore in debt funding in the first half (H1) of FY25. The highlight of this financial year is the successful onboarding of 14 new lenders, who have contributed around ₹480 crores, which is a significant milestone in Samunnati’s growth journey. The new lenders include prominent banks like Kotak Mahindra Bank, Indian Overseas Bank, ESAF Karur Vysya Bank, and Impact lenders Blue Earth and Enabling Qapital.
Samunnati's robust business growth, meaningful impact, and reputation as a reliable partner in rural development have instilled confidence among investors. Samunnati has also explored Innovative funding routes, such as online bond platforms wherein over 5500 investors have subscribed to Samunnati's bonds, demonstrating the growing confidence in the company's mission and financial stability.
Mr. Anil Kumar SG, Founder and CEO at Samunnati said, At Samunnati, our relentless focus on deepening and strengthening the entire agricultural value chain has allowed us to achieve remarkable milestones in just six months of FY24-25. By integrating financial solutions with market access and capacity building, we are creating a robust ecosystem that empowers farmers and FPOs at every stage of the value chain. The funds will enable us to scale further, unlocking greater opportunities for India’s agri-community and bringing us closer to our vision of sustainable growth and rural prosperity.
He added that despite the rising interest rates and a tightening credit environment, Samunnati has managed to reduce the average cost of borrowings for sanctions by 20 basis points. This reflects the company's efficient operations and strong creditworthiness.
Samunnati’s impressive financial growth story continues this year also, building on the strong momentum of last year (FY23-24) where it had secured funding totalling $155 million (Rs 1158 Crore) for the whole financial year. During the last FY, it attracted investments from investors like USDFC, Credit Saison, Tata Capital, Poonawalla, Hinduja Leyland Finance, Wint Wealth, Altifi, Alteria Capital, and Anicut Capital.
About Samunnati
India’s largest agri enterprise, Samunnati is an open agri network to unlock the trillion-dollar-plus potential of Indian agriculture with smallholder farmers at the center of it. Serving the entire value chain, Samunnati’s Agri Commerce and agri-finance solutions enable affiliated Farmer Collectives and the larger ecosystem to be more efficient and productive. Samunnati has a presence in more than 100 agri-value chains spread over 23 states in India. Samunnati currently has access to 6500+ Farmer Collectives with a member base of over 8 million farmers.
Varun Bhardwaj
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