Arya.ag, an agritech and lending platform, has secured a $30m debt facility through a collaboration with HSBC and GuarantCo, a financial institution under the Private Infrastructure Development Group (PIDG).
This marks GuarantCo’s first-ever transaction in India’s agritech sector and its initial partnership with HSBC, according to a report from YourStory.
Arya.ag focuses on addressing key challenges in the agricultural sector, particularly inadequate storage facilities and the lack of timely financing. By offering storage solutions closer to farms, the company helps reduce post-harvest losses and improves the quality and marketability of grains.
Additionally, Arya.ag’s platform integrates storage with financing, enabling farmers to access loans within 30 minutes of depositing their produce at warehouses.
The newly secured funding will be used to expand Arya.ag’s warehouse receipt financing and to bridge payment gaps between farmers and buyers.
Arya.ag Co-founder and CEO Prasanna Rao said, “This partnership is unique in many ways. It marks GuarantCo’s first-ever transaction in the agritech space in India and their first collaboration with HSBC. The funds will help us deepen our services, enabling farmers to avoid distress sales and secure better returns for their produce.”
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