NOIDA, 16 August 2021: Arya recently announced that it has tied up with SBM Bank India for commodity financing. The former has formed a strategic partnership with the latter to reinforce its competencies in financing solutions.
Through this collaboration, SBM Bank India will expand its presence to cater to agri-traders and agri-entrepreneurs across the country and offering them customised solutions to help them grow.
Agritech start-up Arya provides integrated post-harvest services. Its platform helps users to choose ancillary services like warehouse management, access to finance, quality testing, storage protection services, and connecting produce to buyers.
The start-up helps farmers, aggregators, farmer producer organisations (FPOs), food processors and end-user corporates avoid post-harvest losses. It assists sellers of agri-commodities to avoid distress sale of produce by extending post-harvest credit.
SBM Bank India is part of the Mauritius-based SBM group. The lender is headquartered in Mumbai and has a presence across the top-six metropolitan cities of the country.
“We are committed to improving access to credit, ease in the 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,” Arya Chief Business Officer (Storage Solutions) Ritesh Raman stated.
SBM Bank India’s spokesperson said the company is focusing on a commodity financing portfolio, and this partnership strengthens its hold in the segment.
Image credit: feedsportal.com
