June 13, 2024

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Agtech start-up Unnati introduces pay later option for farmers

Agritech start out-up Unnati is introducing the ‘pay later’ choice to farmers for getting the inputs this sort of as seeds and agrochemicals on its platform.

Unnati has partnered with a non-banking economic enterprise (NBFC) for desire subvention. The ‘pay later’ facility is getting released for farmers in Uttar Pradesh and Bihar, exactly where the enterprise has currently captured info of massive user base.

“We are currently piloting the pay later on facility with our stores and traders and the very same would be extended to farmers in the forthcoming rabi time,” reported Amit Sinha, co-founder, Unnati. The desire subvention can also be done by the agri-enter models, which the farmer is getting, Sinha reported.

Farmers can acquire inputs this sort of as seeds, pesticides and gear accessories from the sellers registered with Unnati and pay for it via equated regular instalments. Farmers can also e book in progress their necessity for seeds and other inputs via the platform or sellers, Sinha reported.

Unnati has a community of sixteen,000 stores and traders via which the farmers registered on its platform can acquire inputs and also promote their produce. Sinha reported about 2.seventy five lakh farmers are registered on the Unnati tech platform via which the enterprise also features economic services and farm advisory. Unnati has partnered with Paytm Lender to drive economic inclusion amongst the farming local community.

“We are using various parameters to build the credit profile of our farmers associates. The parameters involve the size of landholdings, the transactions carried out on the Unnati platform amongst other individuals,” Sinha reported.

Unnati now operates in areas of Uttar Pradesh, Madhya Pradesh, Maharashtra and Bihar and proposes to increase its functions to Andhra Pradesh, Telangana and Rajasthan this yr.