Arya.ag, an integrated grain commerce platform, on Tuesday, announced that its lending in the agriculture sector has topped ₹500 crore on its embedded fintech platform, Aryadhan.
According to the company, the lending platform witnessed a 3X growth in its loan book from ₹142 crore in December.
The company further said this milestone is propelled by Arya.ag’s indigenously built digital capabilities, which have been customised for simplified and optimum use by smallholder farmers and farmer producer organisations (FPOs). With immediate access to finance, farmers, FPOs and other stakeholders in the value chain can tide over any liquidity requirements and fend off any distressed sale scenarios after harvest, the company said in a statement.
According to the statement, Arya.ag’s technology stack built on Internet of Things, analytics, artificial intelligence and machine learning enables minimal transaction costs and lower interest rates for borrowers while expediting the turnaround time for loan disbursements.
Aryadhan is the largest NBFC in warehouse receipt finance, distinguished by its deep outreach to farmers and FPOs, the statement added. Its unique phygital model is especially relevant in near farm locations where banks are largely averse to lending citing risk considerations.
Arya.ag’s ‘Insta-Loan’ allows a farmer to avail a loan instantly against his/her stored commodity at his/her discretion from the comfort and convenience of the home, it said, adding the ‘Insta-Release’ product enables farmers to have immediate access to their stocks upon payment of loans for further sale.