Ergos GrainBank
India
Ergos GrainBank is a mobile app and web based digital platform that enables farmers to convert their grains into tradable digital assets, avail credit against those assets through partner NBFCs and Banks, and get better prices for their produce. It provides decentralized warehousing solutions at the farmgate with eNWR (electronic Negotiable Warehouse Receipt) facility, allowing farmers to store, access credit, and sell their produce efficiently.
Digital Solution (DS) Category
Digital Agriculture
Digital Agrifood Services
Digital Finance
Digital Solution Type (sub-category)
Farm management services
Supply chain management
Financial services and credit
Delivery type (format)
Mobile app
Web based platform
DS supplier-user category
Business to business
Type of entity (ICT developer-supplier)
Agritech company
Name of supplier/developer
Ergos Business Solutions Pvt Ltd
Primary Users
Farmers
Digital Solution Development Stage
Commercial stage (broad use use locally)
Number of users or subscribers
Over 10,000 small and marginal farmers benefited from loans. Source: https://www.linkedin.com/posts/grainbank-agritech-data-science-agfintech_farmers-loan-grainbank-activity-7226412768180994049-eNkS?utm_source=share&utm_medium=member_desktop
Measurable positive impact(s) by Digital Solution (DS) on target users and/or audience
Facilitated loans worth over ₹500 crores for more than 10,000 small and marginal farmers 100% loan repayment rate with interest within 10 months Eliminates risk of grain loss from improper storage Provides immediate liquidity through credit facility Enables farmers to sell produce during off-season for better income Improves farmer livelihoods through access to best-in-class services at the farmgate Digitizes and makes stored grains fungible, helping aggregate demand & supply 1.5 Lakh Farmer Access 2 million MT Grain Access Everyday Low-Price Offers Zero upfront FUND Purchase Orders – SPOT Purchase Super Fast FUND movement ( IN & OUT) – Razorpay Payment gateway Pre-Approved Loan Amount worth 10 Crores / per Buyer Source: https://ergos.in/
Digital Solution Geographic scope
India
Name of Digital village(s), districts, communes where DS is used/deployed
On-line resource links (Web-page links, links to videos, links to reports, etc)
DS Links to FAO, UN and other Development agencies projects, initiatives and programmes