ET Startup Awards 2020: Samunnati reaps rewards for tackling big challenges

ET Startup Awards 2020: Samunnati reaps rewards for tackling big challenges

Anilkumar SG. Founder & CEO | Samunnati

Synopsis

Samunnati was the overwhelming range of the jury into the social enterprise category for the sheer scale and complexity associated with challenges that the nonbanking finance business (NBFC) is trying to tackle in agricultural finance through its distinctive market-linkage model.

The fintech loan provider, which runs into the niche intersection of agri technology and finance, has disbursed loans well well worth over Rs 4,200 crore, serving 4 million farmers that are small 112 districts in the united kingdom since its inception in 2014.

“It is difficult to not ever acknowledge the scale of Samunnati versus the other people here. It is simply running at a tremendously various scale,” said a part for the jury. The panel acknowledged not only just exactly what it offers accomplished, but in addition the possible for development.

The business’s social objectives in bridging the credit space through efficient usage of technology additionally aligns aided by the federal federal federal government’s monetary addition mandate through various schemes of Digital Asia.

Founder and CEO Anil Kumar, a veteran banker with over 27 many years of experience, stated the NBFC has followed an approach that is growth-oriented enable the agriculture community.

“If this recognition for Samunnati inspires a generation of young business owners to enter the company of farming finance, that could be the best acknowledgment he said, adding that the market for growth and creating meaningful social impact is limitless for us. How big is Asia’s agricultural finance marketplace is about $250 billion. While about 50 % the folks derive their main income from farming, over 80% are tiny and marginal farmers.

Unlike old-fashioned lenders farm that is financing, Samunnati does not restrict itself to crop owners. It runs credit to all or any stakeholders when you look at the agricultural supply string via a model of market linkage.

Furthermore, the organization, which employees over 500, additionally provides considerable services http://cash-central.net that are advisory tiny farmers and manufacturers with an eye fixed to educating them into becoming more self-reliant by using technology. Most lenders that are traditional all financing whenever lockdown began nevertheless the startup disbursed loans worth Rs 330 crore into the June quarter.

Samunnati clocked Rs 729 core in income in FY20, a figure that caught the jury’s attention combined with the organization’s range and ingenuity. “It really is re solving an objective at scale! We now have a winner that is clear” said a part of this panel.

Shashi Kumar, founder, Akshayakalpa.

Akshayakalpa | Shashi Kumar, Venkatesh Seshasayee, Ranjith Mukundan, Ravishankar Shiroor, Ramakrishna Adukuri, Praveen Nale, Giridhar Bhat, Ramkumar Iyer and Mohammed Ashraf

Akshayakalpa is a organic milk and milk products brand name. The organization helps farmers arranged little, natural dairy farms and offers financial and tech support team in addition to use of areas.

GoCoop | Siva Devireddy

GoCoop | Siva DevireddyGoCoop is an internet market that can help Asia’s weavers and artisans list and offer their products or services to customers straight. The company additionally works together numerous cooperatives and groups, while bringing up to speed organizations as purchasers due to their items. It has additionally launched a unique personal label, the nice Loom.

(L-R) Krishna Kumar and Kunal Prasad, co-founders, CropIn Technology Options

CropIn | Krishna Kumar & Kunal PrasadCropIn provides software- based farming methods to any or all key stakeholders within the agricultural sector. It caters to agriculture and agri-input organizations, crop insurance firms, federal government and advisories. It creates 50 % of its income from Global areas, and aims to develop that to 60-65% within the next 3 years.

(L-R) Suhani Mohan and Kartik Mehta, co-founders, Saral Design possibilities

Saral Designs | Suhani Mohan & Kartik MehtaSaral Design Solutions is taking care of increasing use of highquality sanitary napkins and medical masks making use of technology, decentralised production and last-mile distribution. It manufactures machines that produce high-quality menstrual hygiene items at fewer than half the price charged by MNCs.

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