The Indian startup story has not just gone global, it’s going deep into the hinterlands too. And it’s the high networth individual (HNIs) investors in tier 2 towns of industrial belts who are driving this rush of investments in new-age companies.

Rural fintech startup Jai Kisan on Friday said it has raised $50 million ( ₹398.5 crore) in a mix of equity and debt in the first close of its ongoing Series B funding round.

The new funds will be used for scaling KreditBee’s existing business and diversifying its product offerings by venturing into digitally enabled financial products