Biography of Adriel Maniego: Founder and CEO of Jai Kisan- FinTech Startup
Biography of Adriel Maniego:
Early Education and Academic Excellence
Adriel Maniego’s journey began at St. Thomas High School in
Mumbai, where he honed his skills as a member of the Debate Team. His academic
path continued at Mays Business School, Texas A&M University, where he
pursued a Bachelor of Business Administration in Finance. During his time at
Texas A&M, Adriel took on leadership roles as President of Gamma Beta
Fraternity Inc. and participated in several prestigious programs, including the
Aggie Investment Club, Mays Horizons Program, and Aggies on Wall Street Program.
Early Career in Consulting and Finance
Adriel's early career involved positions in consulting and
financial analysis. He worked at PwC in the management consulting division
focused on financial services for two months in 2014 and at Ernst & Young
in advisory roles for two months in 2013. His initial experience as a Financial
Analyst at AMD from May to August 2012 provided a solid foundation for his
later roles in finance and consulting. These experiences equipped him with the
skills and insights necessary for his successful ventures in fintech and
beyond.
Biography of Adriel Maniego: Founder and CEO of Jai Kisan- FinTech Startup/Entrepreneur/Investor/Success story of Adriel Maniego/Jai Kisan/Life story
Leadership and Consulting Experience
Before embarking on his entrepreneurial journey, Adriel
gained extensive experience in various roles. From April to August 2017, he
served as the Director of Youth Outreach at The Filipino Young Professionals of
Houston, where he worked to engage and support young professionals in the
community. Prior to this, he was a Consultant at Alvarez & Marsal from
August 2015 to August 2017, specializing in corporate performance improvement,
mergers and acquisitions, and project management. During his tenure, he also
founded A&M's Young Professionals group and was elected to a global board
overseeing chapters across four continents.
The Birth of Jai Kisan
In 2017, two entrepreneurs, Arjun Ahluwalia and Adriel
Maniego, launched Jai Kisan, a company dedicated to improving financial
services for rural farmers and retailers in India. Their mission was to create
a more transparent and appealing way for these individuals to access financing
through innovative services like buy-now, pay-later and supply chain financing.
Over the years, Jai Kisan has become an integral part of India’s agricultural
landscape, helping both farmers and agricultural retailers thrive.
A Vision for Better Financing
George Roche from Yara Growth Ventures highlights the
potential Jai Kisan has to revolutionize financing in rural India. He notes
that by providing better credit access, the company can significantly boost the
growth of micro, small, and medium enterprises (MSMEs). This, in turn, helps
farmers afford essential products that enhance their crop yield and overall
quality, paving the way for a more productive agricultural sector.
Building a Strong Business Model
The Yara Growth Ventures team is impressed by Jai Kisan’s
approach and dedication. They appreciate the company’s strategic plan, which
starts with a free software tool for MSMEs to better manage their businesses.
This tool leads to more direct financing for these enterprises and their
customers. Jai Kisan’s well-thought-out business model, aimed at creating a
positive feedback loop, is seen as a key factor in delivering value to its
users.
A Journey of Growth and Innovation
Arjun Ahluwalia, Jai Kisan’s co-founder and CEO, expresses
pride in the company’s progress. He attributes their success to the unwavering
support from customers, partners, and their resilient team. Ahluwalia is
grateful for the trust placed in Jai Kisan by investors, lenders, and other
stakeholders. He is committed to continuing this journey of innovation, driven
by new-age solutions and a focus on customer experience.
New Investors and Funding Success
Jai Kisan recently secured $50 million in a combination of
equity and debt during the first phase of its Series B funding round. This
investment comes from new backers such as Yara Growth Ventures, GMO Venture
Partners, and DG Daiwa Ventures, as well as existing supporters like Blume
Ventures and Mirae Asset. The company plans to use this capital to expand its
services and strengthen its data science and engineering capabilities.
Valuation and Future Plans
The capital raised values Jai Kisan between $200-240
million. The company anticipates additional funding of $30-50 million to
further support its growth. This funding will help Jai Kisan enhance its
product offerings and expand its reach, continuing its mission to support rural
businesses and farmers with tailored financial solutions.
Expanding the Product Suite
With the new investment, Jai Kisan aims to broaden its range
of financial products and improve its technological infrastructure. The funds
will also support talent acquisition to drive further innovation. This
expansion is crucial for the company’s goal to provide more comprehensive and
customized financial services to its rural clientele.
Achieving a Key Milestone
Before this funding round, Jai Kisan had already raised $30
million in debt and equity during its Series A round, led by Mirae Asset. This
earlier investment laid the groundwork for the company’s continued growth and
development, showcasing the strong investor confidence in Jai Kisan’s vision
and potential.
A Comprehensive Financial Platform
Jai Kisan, founded by Ahluwalia and Maniego, has built a
robust financial services platform for rural communities. Their Bharat Khata
app aids rural businesses in digitizing transactions and understanding their
financial needs. The company’s recent acquisition of Kushal Finnovation
Capital, an NBFC specializing in supply chain financing, has further enhanced
its capabilities.
New Licensing and Opportunities
Jai Kisan’s acquisition of an NBFC license marks a
significant milestone. This new license allows the company to offer customized
financial products directly and enter into co-lending partnerships with
financial institutions, including public sector banks. This move enhances Jai
Kisan’s ability to provide tailored financial solutions to farmers and rural
businesses.
Transforming Rural Finance
Arjun Ahluwalia emphasizes the transformative impact of the
NBFC license. With nearly a billion people in rural India, this license enables
Jai Kisan to offer credit products that meet the specific needs of these
communities. The company can now deliver financial services more effectively,
ensuring that rural customers receive the support they deserve.
Building a Digital Ecosystem
Since its inception, Jai Kisan has established a digital
ecosystem connecting corporates, rural intermediaries, and financial
institutions. This network facilitates supply chain financing and
buy-now-pay-later options for agricultural inputs and equipment. The company’s
efforts have significantly impacted over 350 corporates, more than 100,000
rural businesses, and over 800,000 farmers.
Strengthening the Advisory Board
To further bolster its operations, Jai Kisan has expanded
its advisory board. Notable additions include Arvind Kathpalia, a former senior
executive at Kotak Mahindra Bank, and Ravi Duvvuru, a former compliance officer
at Jana Small Finance Bank. These experts will guide Jai Kisan on credit risk
and regulatory compliance, enhancing the company’s strategic direction.
Preparing for Future Growth
Looking ahead, Jai Kisan plans to raise additional funds in
the coming quarters. This new round of funding will focus on supporting the
operationalization of the NBFC license. The company’s ability to scale quickly
within the regulatory framework is expected to drive its continued growth and
solidify its position as a leading rural financial institution.
Recognition and Achievements
Adriel Maniego, Jai Kisan’s co-founder, has been recognized
in Forbes’ 30 Under 30 Asia list for his contributions to finance and venture
capital. His work, alongside Arjun Ahluwalia, has earned international acclaim
for Jai Kisan. The company’s impact on rural finance and its innovative
approach have been acknowledged by various prestigious organizations and media
outlets.
Timeline for story:
2012 (May-August): Adriel Maniego works as a Financial
Analyst at AMD.
2013 (Two months): Adriel works at Ernst & Young in
advisory roles.
2014 (Two months): Adriel works at PwC in management
consulting.
2015-2017 (August): Adriel serves as a Consultant at Alvarez
& Marsal.
2017 (April-August): Adriel is Director of Youth Outreach at
The Filipino Young Professionals of Houston.
2017: Adriel Maniego and Arjun Ahluwalia launch Jai Kisan.
2019: Jai Kisan acquires Kushal Finnovation Capital.
2020: Jai Kisan secures $30 million in Series A funding.
2024: Jai Kisan raises $50 million in Series B funding.
2024: Jai Kisan receives NBFC license and expands its
advisory board.
2024: Adriel Maniego is recognized in Forbes’ 30 Under 30
Asia list.
