New Delhi, April 23 -- The National Bank for Agriculture and Rural Development (NABARD) has acquired a 10% stake in Vadodara-based agri-fintech startup 24x7 Moneyworks Consulting, marking its first-ever investment in a bootstrapped startup, it said in a press note.
Founded in 2018, 24x7 Moneyworks Consulting operates eKisanCredit (eKCC), a digital loan origination platform tailored for cooperative banks, primary agricultural credit societies, and regional rural banks.
The eKCC platform integrates with land records, Aadhaar, eKYC, core banking systems, and ePACS, providing end-to-end automation of the rural credit lifecycle.
"eKCC has demonstrated the potential to improve access, transparency, and efficiency in dispensing agricultural credit. This strategic collaboration will help cooperative banks, PACS and RRBs deliver faster, transparent, and more inclusive credit services to small and marginal farmers," said NABARD chairman Shaji KV.
NABARD did not disclose the financial details of the transaction, and VCCircle could not independently verify the investment amount.
NABARD, established to promote agriculture and rural development, has been actively supporting innovation through institutional partnerships. Over the past two years, it has piloted eKCC across several banks, and the platform is slated for a nationwide rollout.
In addition, NABARD has developed AIFIS, a digital platform for managing interest subvention claims under the Agriculture Infrastructure Fund (AIF). AIFIS enables real-time validation and disbursement of these claims.
"This partnership validates our mission to build tech-driven, inclusive credit infrastructure for rural India. Our solutions are designed with empathy for last-mile users," said Ranjeet Gautam, founder and CEO of 24x7 Moneyworks Consulting.
Published by HT Digital Content Services with permission from VC Circle.