New Delhi
Hyderabad-based agri-fintech start-up Hesa has announced that it aims to provide financial solutions to over 60 thousand Hesaathi’s across 30,000 villages in tier-2 and -3 cities. The feature will provide rural India ease of transactions such as bill payments, opening an account to withdraw money, small needs like mobile recharge, bus ticket booking, opening demat accounts, opening a fixed deposit account, etc.
Hesa is a unified social, physical and digital (phygital) commerce platform enabling digital transactions of products and services in rural India.
With these financial services, the app works towards bridging the gap between the financial services providers with their last-mile target consumers, using a phygital approach. It expands and empowers businesses to ride the rural value chain for buying and selling, leveraging technology and human capabilities.
With this, the app aims to solve financial challenges and accessibility in remote rural locations and enable the technology for both customers and the brands from buying, selling, promoting, and delivering. It is currently accessible in Telangana, Andhra Pradesh and Karnataka and will soon expand its operations into five additional states of India, starting with Maharashtra in the next quarter.
The financial services provided also increase the productivity of farmers. As most of the remote villages do not have a bank at present, the farmer has to travel to another village, thus spending a lot of time. Through Hesa’s financial services, this travel time will be eliminated. This applies to all who are doing different businesses in the rural market.
Rishabh Shah, Chief Strategy Officer and Head-Fintech, Hesa, said, “We are in an era where the rate of fintech adoption is immense as there is an exponential increase in the rate of smartphone penetration in India. Mobile payments have been a joy for customers in urban and rural India. With our services, we want to empower rural India in a way that they are owners of their own business and still at the same time are associated with us so they have employment options. Currently, the platform has over 15 lakh transactions a month and we aim at having more than 30 Lakh transactions by the end of 2022.”
The vision of the company is to provide not only employment opportunities but to provide all kinds of services that are easily available if you are living in a metropolitan city, thus becoming the one-stop destination for rural India.