Agritech start-up Arya on Tuesday said it has teamed up with State Bank of Mauritius-India for commodity financing.
State Bank of Mauritius-India (SBM Bank India) is headquartered in Mumbai and has its existence across the top-six metropolitan cities of the country.
Arya offers integrated post-harvest services. Its platform assists users to choose ancillary services like warehouse management, access to finance, quality testing, storage protection services, and connecting produce to purchasers.
The start-up assists farmers, aggregators, farmer producer organisations (FPOs), food processors and end-user corporates avoid post-harvest losses. It helps sellers of agri-commodities to avoid distress sale of produce by extending post-harvest credit.
In a statement, Arya said it has formed a strategic partnership with SBM Bank India to reinforce its competencies in financing solutions.
"We are committed towards improving access to credit, ease in financing process and robust solutions for instant credit to every client in the agri value chain.
"SBM Bank India has profound domain expertise and is led by a core team of industry veterans. This alliance will only help to strengthen our position as a market leader," stated Arya Chief Business Officer (Storage Solutions) Ritesh Raman said.
SBM Bank India’s spokesperson said the firm is focusing on commodity financing portfolio, and this partnership strengthens its hold in the segment.
With this collaboration, SBM Bank India said it is expanding presence to cater to agri-traders and agri-entrepreneurs across the country and providing them customised solutions to help them grow.