Dvara E Registry concludes a new partnership with Monexo Fintech
This partnership will particularly benefit beginning farmers in the region who depend on informal sources of credit.
Dvara E-Registry announced a new partnership with RBI Authorized Peer-to-Peer Digital Lending Marketplace Monexo Fintech Pvt Ltd. Through this partnership, Monexo and Dvara E-Registry will provide loans to farmers in Jajpur, Dasarthpur and Korai Blocks of Odisha.
As part of this partnership, Dvara E-Registry will provide its services as a commercial correspondent to Monexo, including identifying creditworthy farmers and covering the sanction, disbursement and recovery of short-term agricultural loans to smallholder farmers in rural areas. identified areas of Odisha. This partnership will particularly benefit beginning farmers in the region who depend on informal sources of credit. These farmers will be identified through the Agricultural Producer Organizations (OPA) that Dvara E-Registry engages through Doordrishti.
Doordrishti, a mobile and web-based platform developed by Dvara E-Registry, enables farmers, FPOs and partner institutions to leverage traditional and alternative data to digitize farmer and FPO land, business business and provide them with specific agricultural and crop-specific products and services. KhetScore, an AI-based farm score developed by Dvara E-Registry, leverages remote sensing data from multiple satellites and enables remote multidimensional assessment of historical and simultaneous farming activity.
Commenting on the partnership, Sanjay Mansabdar, Founder and CEO of Dvara E-Registry, said, âWe are very happy to partner with Monexo to be able to provide agricultural finance opportunities to high net worth individuals. By leveraging the Doordrishti platform and KhetScore, our advanced underwriting technology based on remotely sensed data, we are making significant progress towards the integration of agricultural finance, which we believe is a key driver of growth for small farmers.
Mukesh Bubna, CEO of Monexo Fintech Private Ltd, said: âIndia is primarily an agriculture-based economy, so this partnership has helped Monexo create a very healthy and diverse asset class for lenders in our market. . Monexo wants to channel urban cash flows to rural markets. This is a win-win solution for clients of our platform who want to create social impact while achieving high returns and for borrowers who need cash during critical periods of their crop life cycle. . The technology driven awareness in this segment by Dvara E-Registry is creating a positive long term impact in the rural market, and we are very happy to be a part of this journey.
About Dvara E-Registry: Dvara E-Registry is an agfintech startup that creates a digital platform to improve access to agricultural services, both financial and advisory, for all actors in the chain. agricultural value. The startup is a holding company of Dvara Holdings (formerly Dvara Trust) and is part of the Dvara Venture Studio cohort that supports entrepreneurs working for large-scale systemic change in financial inclusion. Dvara E-Registry has been named one of the 2021 Inclusive Fintech 50 laureates for its work supporting the financial inclusion of smallholder farmers.