Unnati Agri, an agriculture supply chain and financial services startup, has tied up with Indian Farmers Fertiliser Cooperative Limited (IFFCO) to provide financing solutions to various segments of its channel partners to enhance their business operations and help meet the needs of their farmer customers.
Channel financing is a working capital facility provided to channel partners who buy a product or service from a company. In the case of IFFCO, channel partners are retailers, dealers or distributors who buy fertilisers from the company.
Under this partnership, Unnati Agri will extend channel financing solutions in collaboration with its partner non-banking financial companies (NBFCs), including its subsidiary Ora Finance, to about 76,000 channel partners across the country associated with IFFCO. By availing this credit facility, they can procure larger quantities of stock from IFFCO, enabling them to deliver quality products to their farmer customers at the right time.
“The new tie-up will empower IFFCO’s channel partners to unlock their potential and contribute to the growth of the agriculture sector in India,” said Ashok Prasad, co-founder, Unnati Agri.
The credit facility offered through the collaboration is completely digital and designed to provide easy access to short-term credit for the customers of IFFCO.
“We at IFFCO are working to support farmers and channel partners to adopt new innovative technology-based fertiliser – nano urea and nano DAP, Sagarika and other new bio products which will support in reducing chemical fertilisers in farming and will also increase and improve the productivity of farmers,” said Rajneesh Pandey, chief marketing manager, IFFCO.
“The credit facility provided by Unnati through its NBFC partners will support the implementation of nano fertiliser technology in agriculture. Initially it has been decided to start the credit facility in UP, Bihar, Maharashtra, Telangana, Andhra Pradesh,” Pandey said.
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