Agri Value Chain Enabler Samunnati Raises INR 89.6 Crore
Samunnati, an agri value chain enabler has raised INR 89.6 crore in debt from FMO - Entrepreneurial Development Bank and Triodos Fair Share Fund and Triodos Microfinance Funds - two financial inclusion funds managed by Triodos Investment Management (Triodos IM). FMO and Triodoc have Both committed Rs 44.8 crore each in debt to Samunnati Financial Intermediation and Services Pvt Ltd, a non-banking financial company (NBFC).
Founded in 2014 Samunnati is a provider of financial intermediation, market linkages, and advisory services that are used to enhance the value of all players across the agriculture value chain. The Chennai based company aims to provide underserved households access to markets through financial intermediation and advisory services by focusing on the key economic drivers of a district.
The company had earlier raised debt financing of $20 million from US International Development Finance Corporation (DFC). The fresh capital will be utilized by the firm to expand financing and provide technical assistance to low-income farmers and enterprises throughout the agricultural value chain in the country. Additionally, the capital will be used to render loans to FPOs and SME agribusinesses that are currently underserved by the formal financial system.
Speaking about the investment Anilkumar SG, Founder & CEO of Samunnati said, “Samunnati is working with FPOs on the supply side and agri enterprises on the demand side across 19 states in India. We are delighted to partner with FMO and Triodos Bank as this will help us further offer customised financial solutions, using social and trade capital to FPOs and SMEs, enabling the agri value chain to operate at a higher equilibrium”.
Aditya Mohan, Senior Investment Manager, Triodos Investment Management Asia said, “Samunnati is a pioneer in building a social enterprise focussed on improving the lives of the farming community. We are glad to strengthen our partnership with Samunnati, and support their efforts to build an efficient and equitable agri ecosystem.”
Founded in 2014 Samunnati is a provider of financial intermediation, market linkages, and advisory services that are used to enhance the value of all players across the agriculture value chain. The Chennai based company aims to provide underserved households access to markets through financial intermediation and advisory services by focusing on the key economic drivers of a district.
The company had earlier raised debt financing of $20 million from US International Development Finance Corporation (DFC). The fresh capital will be utilized by the firm to expand financing and provide technical assistance to low-income farmers and enterprises throughout the agricultural value chain in the country. Additionally, the capital will be used to render loans to FPOs and SME agribusinesses that are currently underserved by the formal financial system.
Speaking about the investment Anilkumar SG, Founder & CEO of Samunnati said, “Samunnati is working with FPOs on the supply side and agri enterprises on the demand side across 19 states in India. We are delighted to partner with FMO and Triodos Bank as this will help us further offer customised financial solutions, using social and trade capital to FPOs and SMEs, enabling the agri value chain to operate at a higher equilibrium”.
Aditya Mohan, Senior Investment Manager, Triodos Investment Management Asia said, “Samunnati is a pioneer in building a social enterprise focussed on improving the lives of the farming community. We are glad to strengthen our partnership with Samunnati, and support their efforts to build an efficient and equitable agri ecosystem.”
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