Tractor Junction raises Rs 200 cr in Series A round

New Delhi, Nov 19 (PTI) Rural auto-fintech platform, Tractor Junction on Wednesday said it has raised USD 22.6 million (Rs 200 crore) in a Series A funding round.

The round includes USD 17 million in equity, led by Astanor, a Europe-based impact fund making its first investment in India, the company said in a statement.

Existing investors Info Edge and Omnivore also participated. The round also includes USD 5.6 million in debt, it added.

The fresh capital will be used to expand used vehicles business, enhance digital capabilities, deepen on-ground presence, and further strengthen fintech capabilities, the company said.

Tractor Junction operates company owned, company operated (COCO) stores across 75 cities in six states, enabling farmers to buy, sell, finance, and insure used tractors and commercial vehicles.

The company said its fintech vertical, FINJ launched in January 2024 has disbursed over Rs 1,500 crore in loans in partnership with 25 lending institutions.

Commenting on the fund raise, Tractor Junction CEO & Founder Rajat Gupta said, "The latest investment allows us to accelerate financial inclusion and bring down the true cost of rural credit." Stating that India's rural economy is central to the future of sustainable food systems, Astanor Partner, Hendrik van Asbroeck said, "Tractor Junction has built a trusted and affordable platform for rural mechanisation by combining technology, on-the-ground reach, and fintech innovation." PTI RKL TRB