Fintech startup Jai Kisan secures NBFC licence; to focus on loan distribution, co-lending

Rural-focused fintech startup Jai Kisan has obtained a non-banking finance company (NBFC) licence following its acquisition of a majority stake in Kushal Finnovation Capital, an NBFC specialising in supply chain financing.

Arjun Ahluwalia, cofounder and chief executive officer of Jai Kisan is a non-executive director of Kushal Finnovation Capital.

With this new NBFC licence, Jai Kisan can now offer customised financial products including loans from its own portfolio. The company will also be able to enter into co-lending partnerships with financial institutions, including public sector banks in India.