Rural fintech startup Jai Kisan has raised ₹26.5 crore (approximately $3 million) in an extended Series B funding round from existing investors, including Mirae Asset, Unitary Fund, and Blume Ventures. The infusion is aimed at further fueling the company’s mission to empower rural India through accessible financial services.
According to regulatory filings sourced from the Registrar of Companies (RoC), the board at Jai Kisan passed a special resolution to allot 980 compulsory cumulative preference shares (CCPS) at an issue price of ₹2,70,133 per share.
Investment breakdown reveals Mirae Asset led the round with ₹12.5 crore, followed by Unitary Fund and Blume Ventures contributing ₹12 crore and ₹2 crore, respectively. Post-allotment, Entrackr estimates Jai Kisan’s valuation at around $180 million.
Founded in 2017 by Arjun Ahluwalia and Adriel Maniego, Jai Kisan operates as a rural-focused neobank, offering credit solutions tailored for both online and offline commerce in rural markets. The startup serves individual borrowers as well as small and medium enterprises (SMEs) in agricultural and allied sectors.
In FY24, the company posted an operating revenue of ₹39 crore while recording a loss of ₹51 crore. Last year, Jai Kisan marked a strategic milestone by acquiring a majority stake in Kushal Finnovation Capital Private Limited, thereby securing an NBFC license—an important step towards expanding its lending capabilities.
With this fresh funding, Jai Kisan is expected to double down on its credit offerings, deepen its market presence, and leverage its NBFC license to scale operations across rural India.
