Samunnati raises $5 million in debt from Enabling Qapital

Agri value chain financier, Samunnati has raised $5 million in debt funding through an external commercial borrowing (ECB) from Enabling Qapital, a global impact investment advisory firm. In financial year 2023-24, Samunnati had raised $155 million comprising $132 million in debt funding and an additional $23 million in equity funding through a pre-series E round, the company said.

The latest strategic investment by Enabling Qapital will help propel Samunnati’s vision of revolutionising the Indian agricultural sector by empowering small and marginal farmers. This infusion of fresh capital will facilitate Samunnati’s expansion efforts, enabling it to reach a broader spectrum of farmers across India while advancing financial inclusion initiatives.

Anil Kumar SG, Founder and Group CEO at Samunnati, said: “This strategic funding from Enabling Qapital is a testament to the confidence investors have in the role Samunnati plays in bridging the credit gap for smallholder farmers. With these resources, we are well-positioned to empower countless farmers, drive agricultural progress, and contribute to a more prosperous rural India.”

Samunnati has emerged as one of the few companies in this sector, in which reputed investors have shown their confidence and have come onboard. During FY23-24, it garnered investments from 13 esteemed lenders, comprising a prestigious roster including USDFC, Credit Saison, Tata Capital, Poonawalla, Hinduja Leyland Finance, Wint wealth, Altifi, Alteria Capital, and Anicut Capital.

By enabling access to finance, Samunnati empowers farmers to invest in their agricultural activities, thereby improving yields and increasing their income. This not only contributes to the overall growth of the agricultural sector but also fosters rural economic development, the company said.