Total amount raised
$102.2 Million
Latest funding date
1/1/2023
Location
Jai Kisan has successfully raised funds over 13 rounds, with the latest being a Series B, attracting a total of 35 investors including Mirae Asset and Unitary Fund. The platform focuses on providing sustainable financing solutions for rural emerging markets.
Keep reading to explore the intricacies of Jai Kisan's fundraising journey and the investors backing this innovative platform.
What Is Jai Kisan?
Jai Kisan is a fintech platform based in Mumbai, Maharashtra, India, providing sustainable financing solutions for rural emerging markets. The company operates in the agriculture, agtech, financial services, and fintech sectors.
With an employee count ranging between 251-500, Jai Kisan offers various financial products and services tailored to farmers, retailers, and MSMEs. The company has a significant reach, serving over 800,000 farmers and 100,000 rural businesses across more than 5,000 pin codes in 11+ states.
How Much Funding Has Jai Kisan Raised?
- Seed Round
- Amount Raised: USD 3,900,000
- Date: June 2020
- Lead Investors: Arkam Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide initial capital for scaling operations and expanding market reach.
- Series A
- Amount Raised: USD 30,000,000
- Date: May 2021
- Lead Investors: Mirae Asset Venture Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and expand market reach.
- Debt Financing
- Amount Raised: USD 6,000,000
- Date: October 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and provide liquidity for ongoing projects.
- Debt Financing
- Amount Raised: USD 1,970,000
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expenses and provide liquidity for ongoing projects.
- Series B
- Amount Raised: USD 50,000,000
- Date: July 2022
- Lead Investors: Blume Ventures, Yara Growth Ventures
- Valuation at Round: USD 200-240 million
- Motivation Behind the Round: To expand the product suite, enhance customer experience, and strengthen data science and engineering capabilities.
- Series Unknown
- Amount Raised: USD 3,020,000
- Date: January 2023
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing operations and expansion efforts.
- Series B
- Amount Raised: USD 3,000,000
- Date: April 2025
- Lead Investors: Mirae Asset
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand the company's market reach and enhance product offerings.
Jai Kisan has raised a total of USD 97,890,000 in funding. The current valuation is USD 200-240 million.
Key Investors
- Mirae Asset
- Details: Mirae Asset is a global financial services group headquartered in South Korea. It has a strong presence in asset management, investment banking, and life insurance.
- Investment Focus Areas: Technology, financial services, real estate.
- Notable Investments: Grab, SpaceX, N26.
- Blume Ventures
- Details: Blume Ventures is an early-stage venture capital firm based in India. It focuses on investing in technology startups across various sectors.
- Investment Focus Areas: Technology, healthcare, fintech.
- Notable Investments: Unacademy, Dunzo, HealthifyMe.
- Yara Growth Ventures
- Details: Yara Growth Ventures is the venture capital arm of Yara International, a global leader in crop nutrition and digital farming solutions.
- Investment Focus Areas: Agri-tech, sustainable agriculture, digital farming.
- Notable Investments: Not publicly disclosed.
- Arkam Ventures
- Details: Arkam Ventures is a venture capital firm based in India, focusing on early-stage investments in technology and financial services.
- Investment Focus Areas: Technology, financial services, consumer internet.
- Notable Investments: Not publicly disclosed.
- GMO Venture Partners
- Details: GMO Venture Partners is a venture capital firm that invests in technology and innovative startups globally.
- Investment Focus Areas: Technology, fintech, innovative startups.
- Notable Investments: Not publicly disclosed.
What's Next for Jai Kisan?
Jai Kisan stands at the cusp of significant growth opportunities, driven by its innovative approach to rural fintech. The company plans to expand its product suite, enhance customer experience, and digitize savings, insurance, and payment experiences. With the Bharat Khata app already seeing a 400% growth in customers, the potential for further market penetration is immense.
Future fundraising opportunities appear promising, as the ongoing Series B round has already raised $50 million, with an additional $30-50 million expected. This influx of capital will enable Jai Kisan to strengthen its data science and engineering capabilities, add new talent, and scale its operations. The increasing interest in fintech solutions for rural areas suggests that further investment rounds could be on the horizon.
However, Jai Kisan may face challenges such as managing operational costs, ensuring digital literacy among rural customers, and navigating regulatory requirements. Competition from other fintech startups targeting rural markets also poses a potential hurdle. Despite these challenges, Jai Kisan's strategic focus and robust growth trajectory position it well for continued success in the rural fintech landscape.
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