Farmeasy Technologies

Startup Name

Farmeasy Technologies

Founding Year


Business Category


Startup Stage

Early Stage

Type of Entity

Private Limited


Startup’s Objective

Farmeasy Technologies aims at the financial inclusion of small and marginal farmers through a digital platform.

Market Need

Small and marginal farmers have little or no access to financial products. Most farmers are unaware of crop and livestock insurance. They take loans from local money lenders at high rates of interest that consequently pushes them into debt trap, resulting in loss of land and even suicide. Furthermore, the banks are risk averse to lending to farmers due to increasing NPAs in the segment. Although Agriculture is a priority sector, the GNPA (gross-NPA) from agriculture sector and allied activities in PSBs (Public Sector Banks) stood at Rs 1.04 lakh crore at the end of July 2019 as against a total credit of Rs 9.42 lakh crore. Hence, the proportion of GNPA to total credit is around 11%. This has forced banks/insurance companies to rethink about their business model and reduce their overall credit facilitation to agriculture and allied sectors, preventing financial growth of small and marginal farmers.

Product/Service description

The startup has developed an agri-fintech solution for creating creditworthiness scorecard for small and marginal farmers. It offers cheaper loan options, crop/livestock insurance and other financial products. It’s working on a system that shall provide a digital creditworthiness scorecard to each farmer registered on the platform, based on their proprietary algorithm that will consider over 80 parameters for each farmer. This will enable banks, MFIs, NBFCs, and Insurance companies to refer to the scorecard for determining creditworthiness of farmers and provide financial products/services or insurance products to the farmers.


126Mn Small and Marginal farmers of India. Agribusiness and Farmer companies. Banks & MFIs, particularly PSBs and rural cooperatives. Insurance companies for crop and livestock insurance.

Revenue Model

The startup generates revenue through commission on farm loans or insurances (crop & livestocks) as processing fee (upto 3% on the value of the loan/insurance), along with margin (10%) on sales of products (agri products/fertilisers/pesticides) through their platform. They are expecting to earn about Rs. 50L-1Cr in the initial 2 years.

Current Traction

The startup is currently developing the prototype of the digital platform and mobile application. They are also creating the algorithm to determine creditworthiness scorecard using 60+ parameters/data points. Website has been launched.


Alok Ekka, Gunajit Brahma