Loading...

Agri-focused NBFC Samunnati launches FPO network platform

Agri-focused NBFC Samunnati launches FPO network platform
Photo Credit: Thinkstock
24 Jun, 2021

Chennai-headquartered agri value chain solutions provider, Sammunati on Wednesday announced the launch of FPOnEXT, a network of Farmer Producer Organisation (FPO) based on affiliation programme. 

Benefits of joining the network, which is free for FPOs, include pre-sanctioned loans, complementary assessment and feedback from Samunnati as well as access to crop, daily weather alerts, market prices and dedicated call centres. 

 Additionally, Samunnati will also provide training sessions to the member FPOs on aspects of governance, statutory compliance and business management.  

The FPOnEXT platform, according to a statement, will include other stakeholders committed to FPO and small holding farmers like Resource Institutions, Producer Organisation Promoting Institutions (POPI) as well as training and capacity building institutions.  

“At Samunnati, we have always been committed to focus on FPOs and their members. Building FPOs as viable and sustainable Institutions is an integral part of this endeavor. With the launch of FPOnEXT, we seek to deliver a bouquet of products to FPOs in a more structured manner, aligning to the goals and mission of growth of the agricultural ecosystem,” said Anil Kumar SG, founder and CEO of Samunnati in the statement. 

Founded in 2014, Samunnati underwrites loans for FPOs on the supply side, using its proprietary technology tool to customise the financial product. The company had launched Agri-Elevate platform connecting FPOs with Agri-Enterprises (AE) as well as agri startup engagement platform, Samaarambh, in 2020. 

In April, the company had acquired Delhi-based agri supply chain platform Kamatan for an undisclosed amount. The acquisition is expected to power Samunnati’s market linkage outreach initiative.