Gurugram-based Origo, a commodities and rural finance company, has raised about $6.8 million (Rs 48.5 crores) from Switzerland-based responsAbility Investment AG, Maanaveeya, a subsidiary of Dutch social impact investor Oikocredit, and IndusInd Bank.
The funds raised will accelerate Origo’s plan of creating a robust rural financial ecosystem by increasing its distribution in rural India, the startup said in a statement. These funds will allow Origo to provide much-needed capital to agri-enterprises, both small and medium.
Origo, through Origo Commodities and Origo Finance, provides solutions for reducing post-harvest losses in the commodity supply chain, helping dairy and small enterprises in rural India obtain required financing to support their businesses.
It boasts of a team of 1,800 employees across 12 states.
“Over the last 10 years we have gained strength in rural India, helping agri-enterprises and also micro and small enterprises with access to much-needed financing. We cover multiple aspects of rural India including agriculture, dairy and micro businesses. With these investments, we hope to gain further inroads and provide stronger solutions across many more locations,” Venkatram Reddy, CEO, Origo Finance, said.
INDIA DEAL MONITOR
Here are some of the venture capital transactions in India between December 10-December 11.
