Origo to raise ₹145 crore through debt funding
- ByManjeet Singh | October 6, 2021
The US domestic development finance institution DFC will provide a debt funding of $20 million (Rs 145 crore) to agricultural technology company Origo Commodities. Origo provides farmers and traders with procurement services, warehousing support, and trade finance through its digital platform.
By leveraging the fresh capital, the Gurugram-based company will help small and medium-sized agricultural producers and traders deal with the challenges posed by the Covid-19 pandemic. The company will also assist small and medium businesses with procurement and financing to increase their volumes.
A 100 percent secure online commodity trading platform, E-mandi, will help Origo facilitate better price discovery and seamless commodities trading through its digital trade and finance platform.
Sunoor Kaul, Co-Founder, Origo Commodities, said, “ We will utilize the funds to strengthen the sector that was battered by the pandemic and ensure it realizes its true potential.”
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