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Incredible! This Telangana-Based Agri-Fintech Startup Aims To Provide Financial Solutions To 60K Villagers
Telangana, 14 July 2022 10:45 AM GMT
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The Telangana-based Agri-FinTech startup, Hesa, has announced to provide financial solutions to over 60,000 people across 30,000 villages in tier-2 and three cities. It will increase the productivity of villagers as it reduces the time to travel to another town to meet financial needs.
The task of meeting financial requirements in tier-2 and 3 cities is always challenging due to the lack of facilities and digital illiteracy. To overcome the challenge, a Telangana-based Agri-FinTech startup, Hesa, has announced to provide financial solutions to over 60,000 people across 30,000 villages in tier-2 and 3 cities. It will increase the productivity of villagers as it reduces the time to travel to another town to meet financial needs.
The initiative will provide easy access to opening an account to withdraw money, bill payments, and small needs like bus ticket booking, mobile recharge, opening DEMAT accounts, opening a fixed deposit account, and paying electricity bills etc., in rural India.
'Phygital' Approach To Bring Change
The startup wants to connect the gap between the financial services providers with their last-mile target consumers using a phygital (physical-digital) approach. It also expands and empowers businesses to ride the rural value chain for buying and selling technology and human capabilities. The services of this FinTech are currently accessible in Telangana, Andhra Pradesh, and Karnataka, and it will soon expand its operations into five additional states of India, starting with Maharashtra in the next quarter.
The Chief Strategy Officer & Head-Fintech, Hesa, Rishabh Shah, said, "We are living in an era where the rate of fintech adoption is massive as there is an exponential increase in the rate of smartphone users in India. Mobile payments have been a joy for customers in urban and rural India. With our services, we want to empower rural India so that they are owners of their businesses and still, at the same time, they are associated with us, so they have employment options. Currently, the platform has over 15 Lakh monthly transactions, and we aim to have above than 30 Lakh transactions by the end of this year."
The FinTech startup envisions providing employment opportunities and all kinds of services that are readily available. The company claims that it will also develop the rural markets so that people now do not have to come to big cities to find job opportunities; people can easily sustain themselves in rural India with proper job facilities.
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