Chennai-based agri-tech firm Samunnati on Sunday announced that gross transaction value (GTV) across its financial and agri-market linkage businesses has crossed the Rs 10,000 crore mark within six years of scaled existence.
Founded in 2014, Samunnati said out of the total GTV achieved so far, about Rs 6000 crore was lending, while the remaining Rs 4,000 crore worth of commodities was transacted on its platform since inception.
Samunnati offers non-banking financial services as well as agri-market linkages to farmer producer organisations (FPOs) and agricultural enterprises in the value chain, besides engaged in institutional building.
Speaking to PTI, Samunnati founder and CEO Anil Kumar SG said, ''We have been doubling our growth year on year. The Rs 10,000 crore GTV mark is a significant milestone in the company's journey''.
He said the company's GTV in the ongoing 2021-22 financial year is expected to touch Rs 5,000 crore, higher than Rs 2,600 crore achieved in the previous fiscal.
The company's GTV includes both loan disbursement and marketing.
Kumar said the company's growth is coming more due to partnerships as people have started realising the value of internal players in the value chain like Samunnati and the company's ability to attract investment.
For instance, Samunnati said, it recently inked an agreement with cooperative Nafed's subsidiary firm Federation of Indian FPOs and Aggregators (FIFA) to support FPOs by way of providing financial solutions, market linkages, besides capacity building and institutional development training.
Samunnati Foundation, the non-profit subsidiary of Samunnati, has also recently signed a memorandum of understanding (MoU) with IIT Madras' Incubation Cell (IITMIC) to develop innovation in agriculture and help support agri-tech startups.
Currently, Samunnati has a presence in more than 100 agri-value chains spread over 22 states in India.
