The severity of the digital divide is felt daily by rural Indians, especially farmers, traders, distributors, wholesalers, manufacturers, retailers, and exporters operating in the remotest of areas. The scenario for urban India is especially different when it comes to access to finance and credit.
Because anyone living in an urban or semi-urban area can walk into a shop, mall, or retail store and buy whatever they need and are offered easily accessible short payments or EMI options. They can buy the product and pay for it in easy instalments at their convenience afterwards.
However, in the same scenario in rural India, suppose a farmer or agro-producer walks into the retail store, shop, or mall and buys equipment vital for their business. Did the same EMI options were available to them? No. So what options were left for them? Either borrow the money from moneylenders at unbearable interest rates or ask for credit from friends and relatives.
The answer changed to Yes, and the scenario is transforming, thanks to Jai Kisan, founded by Arjun Ahluwalia, Co-founder and CEO, who was a professional from the private equity niche and Adriel Maniego, Co-founder and COO, from the Philippines, with aim of creating the first full-stack and seamless banking experience for rural individuals.
According to them, a massive credit gap in the rural market, being meagrely served by informal moneylenders at exorbitant rates, inspired the need to change how day-to-day banking was done by over 600 million people in India. Jai Kisan, as an organisation, holds customer empathy at the heart of our operations, stemming from a first-hand understanding of rural value chains.
Jai Kisan is a rural-focused Neo Bank whose application – Bharat Khata, provides a one-stop solution for rural businesses and individuals’ financial needs starting with best-suited credit products. Arjun says, “We work with value chain businesses of all sizes and structures – from retail outlets to large corporations to provide financial services to their network of middlemen (dealers, aggregators, etc.) and individual customers fuelling growth for everyone.”
Jai Kisan is building the first rural fintech full-stack platform to cater to the financial needs of borrowers in rural emerging markets. Jai Kisan uses credit as a hook to digitally and financially onboard the rural masses. Today, Jai Kisan facilitates secured and income-generating loans to rural borrowers, mostly farmers (more than 70% of rural India depends on agriculture as their primary source of livelihood), from various lending institutions through its mobile and web-based platform.
Jai Kisan’s platform is built to empower the growth of Rural Indians, especially farmers. “We provide low cost and timely financing for agricultural equipment, dairy equipment and other rural yield generational assets that is more flexible and transparent than any other credit option available today,” adds Adriel.
Why Jai Kisan?
- Customized products to suit your needs.
- End-to-end digital platform and data-driven decision-making.
- Minimal documentation for quick and easy processing.
- Attractive pre-approved offers.
Our Products
Buy Now, Pay Later (BNPL)
India’s first-ever fully digital Buy Now, Pay Later solution for rural businesses to provide formal credit to their customers and enable them to buy high-quality products! Catering to not just the 1% but also the 99%. Adriel informs, “We offer BNPL products in partnership not only with digital storefronts/eCommerce websites (<1% of rural GMV) but also brick and mortar storefronts/dealers/retailers/merchants (~99% of rural GMV) to their customers.”
Benefits of BNPL
*For Sellers
~Faster cash cycles – Realize faster cash cycles and increase your business turnover.
~Lower Collections Effort: BNPL leverages E-Mandate to automatically debit payments on due dates.
~More Inbound Customers – Increase customer footfalls by enabling credit at your storefront.
~Increased Revenue: Increase your business by attracting more customers and enabling them to spend more with your business.
*For Buyers
~Increased leverage: Get limits from Jai Kisan and spend whenever, wherever.
~Lower Interest rates – Best in-town interest rates to fuel your purchases.
~Flexible repayment options – Choose from easy and flexible EMI repayment options.
~Better Credit History – Build your credit history and access more financial products from Jai Kisan.
Supply Chain Financing (SCF)
Unlock the full potential of your business by availing of Jai Kisan’s credit solutions to buy and sell goods. Jai Kisan’s supply chain financing is a flexible, collateral-free credit solution for growth-oriented businesses. “We provide tailored solutions to our customers to help them bridge gaps in their credit cycles, and our platform ensures easy onboarding and low turnaround time in a tech-enabled manner,” says Arjun.
Why Jai Kisan Supply Chain Financing?
~Revolving credit facility – to help your business churn without stretching your working capital
~Customized Financing – to suit your unique business needs
~End-to-end tech platform – to ensure efficient access to financial services and low turnaround times
~Affordable interest rates – to help you grow while maintaining a healthy cash flow. Record your transactions on Bharat Khata and avail of supply chain financing for your business!
Bharat Khata
Digitize your transactions and avail the full suite of customized financial products offered by Jai Kisan. Extend BNPL or Avail SCF within minutes and realize faster turnovers, increased average ticket value and reached out to more customers.
Benefits of Bharat Khata
- Connect digitally with the value chain.
- Avail financing for themselves.
- Extending checkout financing for their customers.
- Track expenses and transactions.
- Collect dues faster, and send reminders.
- Manage orders and inventory.
- Automate business processes.
- Track credit and repayment.
How to get started with JK Bharat Khata, BNPL or SCF?
It is four steps, easy process.
~Step 1: Download Bharat Khata and set up your business profile.
~Step 2: Apply for BNPL Limit/SCF.
~Step 3: Complete your onboarding in a few clicks and get approved for a limit of minutes!
~Step 4: Your Business Is Ready – Extend BNPL to your customers or use SCF to finance your transactions!
Industries We Serve – Dairy, Poultry, Agriculture, Manufacturing, Fishery,
JK Accolades and Awards
- Jai Kisan’s story was featured in one of the “5 Agri-Fintech Startups Powering Agriculture in The Hinterland” in Sep 2022, Forbs India Magazine.
- ETStartRunner Up in the Social Enterprise Category of the Up Awards, 2021.
- Finalist in the Better Life Categoryof the UN FAO’s WFF/XTC Start Up Awards. Shortlisted for India FinTech Forum’s India FinTech Awards 2021 in the FinTech Start-up of the Year Category.
- Selected as one of the Top 50 Inclusive FinTech Startups in the Worldby IFC, Visa, and Accion.
- Selected as one of the Top 15 Agri Startups in Asiain the Rabobank SustainableAG Asia Challenge.
