26 May 2023, Mumbai: Ayekart, India’s First Integrated tech platform in the food and agri value chain and UBFC (Unnayan Bharat Finance Corporation) have announced their plan to join forces to empower the food and agriculture value chain with technology and finance. The respective managements of both companies have approved the acquisition of a majority stake in UBFC by Ayekart, subject to regulatory approvals.
Ayekart is known for offering market access, digitizing the Agri-value chain, and providing trade credit. Meanwhile, UBFC works in dairy value chain and provides small loans to borrowers who own livestock. The combined strengths of Ayekart and UBFC will help create a more equitable ecosystem for the food and agriculture value chain, providing improved market access, advanced technology, and simplified financing to underserved communities involved in the food and agriculture sector.
Delighted to partner with UBFC and strengthen the overall food and supply ecosystem, Mr Debarshi Dutta, Founder and CEO of Ayekart, said, “Our vision at Ayekart is to strengthen traditional businesses in the Agri-value chain through finance, technology, and supply chain management. We are excited about this collaboration with UBFC, which will help us propel our efforts in enabling the MSMEs and FPOs, the important pillars of India’s resilient story.”
Together, the two companies will leverage their expertise to enable the food and agriculture value chain with technology and finance, making it easier for businesses to access markets, scale their operations, increase income, and create more job opportunities.
Further to the collaboration with Ayekart, Avneesh Trivedi, Co-founder of UBFC, added, “UBFC has always aimed to adopt a more dynamic approach through a phygital model to address the problems faced by micro and nano businesses in smaller towns and cities. We found synergy with Ayekart, which operates in similar geographies, to fulfil the needs of small businesses across the nation. This partnership will help us achieve mutual objectives.”
This strategic acquisition between the two companies will help them ramp up their growth ladder and support each other in enhancing their food and agriculture value chain business with their expertise and services.
About Ayekart :- Ayekart is India’s First Integrated platform that addresses the need of the food and agri value chain enabling traditional businesses technologically and financially while retaining and enhancing trust in their ecosystem by delivering efficiency and convenience. The platform aligns with the government’s objectives to bring in the desired change in the SME, MSME, and Retail segment by “Empowering the Traditional Business” and helping bring transparency and credibility to the entire ecosystem.
Ayekart is also engaged in the business by providing technology, finance, and services powering B2B and B2C business along with supply chain management. Ayekart is doing its best by providing digitization, handholding, and providing a platform for traditional businesses, MSMEs, and Retailers. It also enables Supply Chain Finance through financial institutions for pre-shipment finance, and distributor/dealer finance Facilitate Manufacturers with new market linkages.
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