Post-Harvest Agri Startup Arya’s financing arm Aryadhan Financial Solutions announced crossing the loan disbursement mark of Rs. 100crs. The NBFC provides assisted Fintech solution for Post-Harvest finance needs of smallholder farmers, FPOs and micro-enterprises.
Availability of finance is one of the main problems faced by small farmers and micro industries. COVID-19 has severely impacted lives, and many industry verticals are struggling to stay afloat. The farm economy isn’t different and has been severely affected by lockdowns and the disruption that COVID-19 has caused to basic workflows and productivity.
Commenting on this achievement which the NBFC credits to its technological strengths with systems deployed and geographical reach Mr D. Chattanathan, Managing Director for Aryadhan, said “We are keen to nurture and build the post-harvest space in the primary and secondary markets. This will enable the farmer, and the farmer produces organizations to realize better values and for the micro-enterprises easy access to finance. We hope to be the largest lender in the FPC space, and we believe that we have made a great beginning in this direction. With a book of more than Rs100 crore, we feel even currently we would be the largest NBFC lender in the FPC space in post-harvest. We are thankful to various Governments across the country for enabling us to work during the COVID time, which helped us in serving the farmers during the lockdown period too.”
The NBFC also mentioned the collaboration with multiple stakeholders to mitigate the post-harvest challenges faced by FPOs regarding working capital during this lockdown “Raising debt for smaller NBFCs is very challenging. However, despite the challenges Arya has raised $9M funding by strong investors in the Agri-tech space including LGT Lightstone Aspada and Omnivore till now’, said Mr. Sandeep Katiyar, CFO of Aryadhan.
Arya, established in 2013 and it presents across 20 states in India. The company is an emerging player in the post-harvest agriculture ecosystem. It is among the largest service provider to agriculture corporate and the FPO ecosystem in catering to their warehousing and post-harvest needs. With its 100% owned NBFC, Aryadhan, it has a strong client base and the completed loan disbursements of INR 2,000 million.