Hyderabad startup to provide financial solutions to 60,000 farmers

Hyderabad: City-based Agri-Fintech startup Hesa announced an extension of financial solutions to 60,000 Hesaathis including farmers across 30,000 villages in tire two and three cities of Telangana.

The feature will provide ease of transitions such as bill payments, opening an account to withdraw money, small needs like mobile recharge, bus ticket booking, opening DEMAT accounts, opening a fixed deposit account and electricity bills etc to rural India.

With this, the app aims at bridging the gap between the financial service providers and their target consumers using a phygital approach. It empowers businesses to ride the rural value chain for buying and selling, leveraging technology and human capabilities.

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It aims to minimise the financial challenges of the rural population by enabling technology for customers and service providers alike. The app is currently operational in Telangana, Andhra Pradesh and Karnataka. The firm plans to extend its services to five other states, beginning with Maharashtra in the next quarter.

The financial services are also enhancing the productivity of farmers as it eliminates the challenges due to the absence of a bank account for a large number of farmers. This applies to all who are doing different businesses in the rural market.

It expands and empowers businesses to ride the rural value chain for buying and selling, leveraging our technology and human capabilities.

Shedding light on the significance of Hesa, Chief Strategy Officer & Head-Fintech, Hesa, Rishab Shah, “We are in an era where the rate of fintech adoption is immense as there is an exponential increase in the rate of smartphone penetration in India.”

“Mobile payments have been a joy for customers in urban and rural India. With our services, we want to empower rural India in a way that they are owners of their own business and still at the same time are associated with us so they have employment options. Currently, the platform has over 15 Lakh transactions a month and we aim at having more than 30 Lakh transactions by the end of 2022” he added.

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