Ninjacart has expanded its capabilities within the agri-tech space with a new strategic partnership with Avanti Finance.
Through this new collaboration, Ninjacart and Avanti Finance will work to provide easy access to credit products as well as leverage unique technology capabilities and resources to help support the agricultural value chain.
India’s agricultural sector heavily relies on informal lending as a large portion of this population remains underserved by the banks or the NBFCs (Nonbank financial companies).
Through this partnership Ninjacart and Avanti, plan to co-create and make available relevant credit products to the agri community at a reasonable cost, thereby helping customers manage their cash flow, improve their working capital and alleviate their financial hardships.
Thirukumaran Nagarajan, chief executive and co-founder of Ninjacart, said highlighted the need for easily accessible finance.
‘‘Ninjacart’s endeavour is to streamline the whole agri-ecosystem benefiting all agri-players across the food supply chain, allowing them to utilise the infrastructure to its full potential,” said Nagarajan.
“Partnership with Avanti Finance is a perfect example of how together we can add value to the agriculture ecosystem by bringing respective strengths. The financing will give the agri community more freedom, allowing them to make the best decisions for their own benefit.
“We plan to augment the potential of this partnership further by extending credit facilities to the ecosystem's agri-participants such as traders, food growers, producers, farmers and retail outlets.”
Ninjacart and Avanti said they plan to build a platform that will be compliant with OCEN- Open Credit Enablement Network for secured credit information flow. It will be developed with first-of-its-kind infrastructure and a D2D2C (digital-to-digital-to-consumer) model the partnership will enable smooth credit transactions, allowing for the development of tailored loan solutions based on cash flow data from agri-players.