M&A
Rural fintech startup Jai Kisan acquires Kushal Finnovation Capital; inherits NBFC licence
Bengaluru-headquartered Jai Kisan , a rural fintech startup, has acquired Mumbai-based Kushal Finnovation Capital Pvt Ltd and as a result has received an NBFC (non-banking financial company) licence. The NBFC licence will enable ?Jai Kisan? to design and distribute more customised and diverse credit products to farmers and business customers. Going forward, the firm will not only originate loans but also co-lend in partnership with leading financial institutions, including public sector banks.Jai Kisan claims to have facilitated over INR 6,000 crore of loans from banking partners to farmers and rural business customers, with about INR 3,000 crore in FY24 alone.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
