Provide debt solutions to impact-driven startups that aim to create a positive social or environmental impact
Hyderabad: Caspian Debt, a Hyderabad-based digital business loan services company has partnered with Villgro, a Chennai-based social start-up incubator, to provide debt solutions to impact-driven startups that target to create a positive social or environmental impact.
Villgro’s holding company, Bharat Rohan, an agro-tech startup based in Lucknow, received the first disbursed loan of Rs 25 lakh. Bharat Rohan uses hyperspectral remote sensing based on drones / drones and artificial intelligence to make precision farming, integrated pest management and contract farming viable.
Caspian Debt will work closely with Villgro during the year to identify start-ups in impact sectors such as health, clean energy, food and agriculture and education, and their provide quick loans at low cost ranging from Rs 10 to 25 lakh. The goal is to provide access to debt to impact-driven startups by creating a collateral-backed product to help reduce the risk of these unsecured loans.
“Emerging social enterprises in India face the challenge of having limited access to debt due to lack of credit history and a negative feedback link between credit history and access to debt. . The nascent stage of risky debt coupled with a very low risk appetite for start-ups is also one of the reasons for limited access to debt, ”said S Viswanatha Prasad, MD, Caspian Debt.
“Through this partnership with Villgro, we will deliver the first set of debt by the end of the third quarter of 2021. We hope to help startups in high-impact sectors independently access debt, gradually improve their debt limits. debt and long term. benefit from lower interest rates, ”he added.
“Companies based on inventions face an almost impossible task of accessing capital early on. This partnership is based on the idea that it only needs a small amount of capital to catalyze business operations and that credit risk can be reduced by using innovative methods to enable access to this capital ” said Srinivas Ramanujam, CEO of Villgro India.