The agri-integrated supply chain and finance platform, Ayekart Fintech, aims to deliver 4X growth in revenue in the financial year 2022-23. Aided by a high customer base and geographical expansion, the firm duly maintains its pace and profitability and is on track to close the FY-23 GMV at over INR 600 crore with being PAT positive. The platform started its pilot operations in June 2021, and further commercially rolled out its services in September 2021. It clocked a gross merchandise value (GMV) of INR138 crores, in the same financial year.
Ayekart is celebrating two years of its establishment in India. Founded in December 2020, the startup aimed to empower traditional businesses by digitising their operations, assisting in finance, and providing value-added services.
Highlighting the expectations from the current financial year, Debarshi Dutta, Co-founder & CEO, Ayekart Fintech said, “Ayekart is uniquely positioned to grow its business by empowering the traditional business in the food agri value chain through technology, financial services, and value-added services. We expect to grow 4X in the current financial year. We measure our success criteria not only financially but by the impact created in the lives of people and growth in revenue of the business owners onboarded on the platform.”
In the last quarter, Ayekart raised an investment of USD 5.5 million in a mix of equity and debt and expanded its geographical reach in 122 Pin codes across 72 cities in India. Since its inception, the company has empowered directly or indirectly impacting over 100,000 farmers. With the growing demand in the sector and the need for the solutions offered by Ayekart, it also eyes bringing the northeast region into its network.
“We are excited about the road ahead as we plan to launch our deep-tech analytics products for our partners soon. At the same time, we are going deeper with our geographic presence and business product range. Our motto is to stick to the business’ basic principles and ethos and maintain our profitability and growth. We intend to keep the growth momentum and profitability in the coming years and plan to onboard over 50,000 merchants across India in the next two years and empowering over 500,000 farmers,” Dutta added.
Read more: Dairy-tech startup, Mooofarm raises US$13 million funding in Series A round led by Aavishkaar Capital
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