Rural fintech major SarvaGram plans to bolster its distribution and mechanisation services for rural and semi-urban underbanked market segments through franchisee model SarvaMitra.
SarvaMitra Shopee is the unique one-stop solution for underbanked rural markets for loan and farm implementation requirements and plays a pivotal role in furthering the distribution of credit and mechanisation offerings by SarvaGram, it said in a press statement.
The SarvaMitra or the owner of the SarvaMitra franchisee is SarvaGram’s last-mile partner that helps in fulfilling farm rental services. All types of advanced farm machines like cultivators, rotavators, harvesters, threshers, transplanters, sprayers, drones, reapers, tillers, weeders, etc. on pay per use basis are provided through SarvaMitra Shopee.
It is a franchisee-based model where the owner is a local area resident, who is trained and empowered by SarvaGram to facilitate credit access and farm mechanisation for Farmers, MSMEs and agri-aligned entrepreneurs in the region.
The program taps into the familiarity, trust, and deep understanding of the need-gaps of the community that the SarvaMitra holds. These attributes play a significant role in cultivating adoption in rural landscapes making the experience for first-time borrowers and tech novice rural entrepreneurs more seamless and convenient. SarvaGram’s tech-based platform fulfils the service order within an industry best turnaround time offered within the rural landscape. The results are an efficient use of the equipment that benefits the small/marginal farmers in terms of increased productivity, lowered costs and lowered dependence on manual labour.
The presence of SarvaMitra in one region benefits other equipment owners in the vicinity as they can then become SarvaGram’s partner (SarvaMitra’s) by taking the franchisee. Apart from farm implements, consumer durable loan, gold loan and farm loans are other SarvaGram products available via SarvaMitra. For FY’23, customers can also avail insurance offerings from their nearest SarvaMitra franchisee.
Commenting on this milestone, Utpal Isser, Co-Founder, MD and CEO, SarvaGram, shared, “In FY’23, we are planning on increasing the number of SarvaMitra franchises as well as expanding our network of franchises to other states.”
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