Rang De, a peer-to-peer social investing platform, has collaborated with social impact enterprise, Mission Samriddhi to launch a Mushroom Fund. The fund intends to support underserved farmers in Tamil Nadu to drive sustainable income from mushroom cultivation. 

According to a press release, during the initial phase, 40 farmers located in the Namakkal district of Tamil Nadu will receive assistance, enabling them to earn a minimum of ₹8,000 monthly during the first year. 

Founded in 2008 and a RBI-registered NBFC P2P since September 2019, Rang De is a social lending platform that enables social investors to invest in farmers or rural entrepreneurs of their choice while earning a return on their investment. 

The Mushroom Fund is a special investment option that will enable mushroom farmers from Tamil Nadu, while offering social investors a return of up to 8 per cent per annum after an 18-month tenure, the company said. The fund has already raised close to ₹35 lakh from over 290 social investors. The funds will be disbursed to mushroom farmers for the construction of a mushroom shed and providing working capital for the first 18 months of mushroom cultivation. “Mushrooms are a crop that requires very little space and water to grow and can be harvested in just three weeks. With the demand for healthy foods on the rise, we are confident that this partnership will enable more farmers to reap the benefits of this crop,” said Smita Ram, CEO, Rang De.

comment COMMENT NOW