CoOptions, Hyderabad based technology company focusing on Rural India has raised $10mn from Walden and Nadathur Investments.
CoOptions is a 10 year old company which works with co-operative banks and currently, works with half a million farmers in Andhra Pradesh (has exclusive agreement with AP government) and plans to expand it to 10 million farmers in the next two years.
CoOptions’ product, PACS (Primary Agricultural Cooperative Societies) has been implemented in 23 districts covering 10 million farmers. CoOptions, along with the other partners of the Industry – Banking, Insurance, Procurement, etc., introduces a host of financial services at the PACS – namely Credit, Insurance, etc. on a transaction based revenue sharing model with the PACS.
Nadathur Holdings is also co-investing with Walden (which reentered India in 2008) in the current round, i.e. Series B of $10 million.