Dvara E-Registry, an agfintech startup, proclaimed a new partnership with Avanti Finance. Through this partnership, Avanti Finance would leverage Dvara E-Registry's Doordrishti platform, an FPO and farmer success enabling platform, to originate and service fit-for-purpose loans to small and marginal farmers. Dvara E-Registry's KhetScore analytics would be used in underwriting in another important use case of alternative data for credit underwriting. These loans would be disbursed to farmers who are associated with FPOs using the Doordrishti platform across the states of Maharashtra, Odisha and Rajasthan. The crops being financed include paddy, wheat, maize, vegetables, among others.
Articulating about the partnership, Sanjay Mansabdar, Founder and CEO of Dvara E-Registry stated, "This is an important illustration of how
companies can deliver value to rural customers by bringing their respective strengths to a platform.
This is also an important validation of Doordrishti's comprehensive approach to providing farmers with fit-for-purpose products and services that are customised to their needs. Provision of timely credit, as a part of this platform, frees the farmer from credit bundling with inputs and outputs, allowing them to make the best decisions independently."
Doordrishti, the mobile and web-based platform developed by Dvara E Registry, permits farmers, FPOs, and partner institutions to leverage traditional and alternative data to digitise farmer and FPO lands, business activity and offer them farm and crop-specific products and services. KhetScore, an AI-based farm score developed by Dvara E Registry, leverages remotely sensed data from several satellites and enables the remote multi-dimensional assessment of both historical and concurrent agricultural activity. Avanti would leverage KhetScore, and Dvara E-Registry's reach via its Krishak Saathis and Doordrishti platform to create agriculture credit portfolios that are diversified across borrowers, crops, and geographies, without the need for physical presence.
Sunil Kumar Tadepalli, Chief of Partnerships, Avanti Finance stated, "In Avanti's mission to reach the underserved and unserved communities, use of alternative data is critical, this program will be a proof of concept on ascertaining the efficacy of underwriting on verifiable and non-credit bureau data points. We aim to bring in more new to credit (NTC) individuals into the formal banking system and this partnership is a step in that direction."