Ayekart, an integrated tech platform in the food and agri value chain and Unnayan Bharat Finance Corporation (UBFC) have announced their plan to join forces to empower the food and agriculture value chain with technology and finance. The management 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, digitising the agri-value chain, and providing trade credit. Meanwhile, UBFC works in the 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.
Speaking on the partnership with UBFC, 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.”
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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.
Highlighting the collaboration, Avneesh Trivedi, Co-founder of UBFC, said, “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.”
