- Jai Kisan raised ₹26.5 Cr in extended Series B from Mirae Asset, Unitary Fund & Blume Ventures.
- The fintech serves rural India with tailored digital credit solutions, despite ₹51 Cr loss in FY24.
- Its NBFC acquisition boosts custom lending for farmers and small businesses.
Today's era is where urban fintech gets the spotlight, Jai Kisan is sowing a different kind of seed - one rooted in India's rural economy. The Mumbai-based startup has raised ₹26.5 crore (~$3 million) in an extended Series B funding round led by Mirae Asset, Unitary Fund, and Blume Ventures.
The capital injection, spread across 980 high-premium preference shares (₹2.7 lakh per share), comes at a critical juncture.
Despite reporting ₹39 crore in revenue for FY24, Jai Kisan posted a loss of ₹51 crore. The hidden question lingers: Can money alone fix rural India's broken credit pipes?
Founded by Arjun Ahluwalia and Adriel Maniego, Jai Kisan is a neo-bank—a modern digital bank without physical branches - tailored for Bharat, not India.
“With the acquisition of a NBFC… we will now be able to design and distribute more customised and diverse credit products,” the founders had noted last year.
Its digital product, Bharat Khata, claims over 5 million customers, mostly farmers and small merchants.
While Scapia and Zolve headline fintech funding charts, Jai Kisan’s quieter revolution carries higher stakes.
It’s not chasing unicorn glitter, rather, it’s rewriting the credit playbook where formal banking fears to tread. And that might just be the most radical thing in Indian fintech today.
Edited by Harshajit Sarmah
