Samunnati Raises USD55 Million from Nuveen, Elevar, responsAbility, and Accel

Source(s): Samunnati Financial & Intermediation Services |

India-based agriculture-focused financial services provider Samunnati Financial & Intermediation Services has raised INR3.9 billion (approximately USD55 million) in a Series D funding round led by Nuveen, the investment management arm of Teachers Insurance and Annuity Association of America (TIAA). Existing investors Elevar Equity, responsAbility Investments, and Accel Partners also participated in the round. Sumannati supports smallholder farmers through financial intermediation, market linkages, and advisory services. The company will use the new capital to build its client base and expand into new geographies and agriculture value chains.