Rural India-focussed tractor marketplace, Tractor Junction, has raised $22.5 Mn (around INR 200 Cr), in a mix of equity and debt, as part of its Series A round led by Europe-based global impact fund Astanor.
Existing backers Info Edge Ventures and Omnivore also participated in the funding round. While the startup bagged $17 Mn in equity funding, the remaining $5.5 Mn came from financing.
Tractor Junction will use fresh capital to enhance its online and offline presence, expand its refurbishment and certification network, and solidify its financing arm FINJ.
“It will be used to develop our in-house tech capabilities, invest in AI, and deepen the presence of our commerce. We are present across 75 cities in six states and want to expand to about 200 in the next two years. We would also focus on tech development and increasing geographical footprint across the fintech vertical,” Tractor Junction cofounder Rajat Gupta said.
Founded in 2018 by Gupta, Shivani Gupta, and Animesh Agarwal, Tractor Junction is a digital-first platform catering to agricultural and rural mobility needs. It offers a full-stack marketplace for buying, selling, financing, and insuring used tractors and commercial vehicles.
The startup operates company owned company operated (CoCo) stores across six states in the country and partners with more than 50 original equipment manufacturers (OEMs) of tractors, trucks, three-wheelers, and two-wheelers.
Tractor Junction also claims to have a network of more than 1000 dealers across India, and sells 300 used tractors monthly. It claims to have sold almost 7,000 units in the last three years.
Meanwhile, its financing arm FINJ, which was launched in 2024, claims to have already disbursed over INR 1,500 Cr in loans in partnership with 25 lending institutions. “Currently, we are disbursing almost INR 150 Cr used vehicle loans on a monthly basis by working with 25 lenders partners,” said Rajat Gupta. The financing service is currently available in 13 states of the country.
The startup last raised $5.7 Mn in its Seed round in April 2022. Including the current round, Tractor Junction has bagged more than $28 Mn in funding to date.
On the financial front, Rajat said that Tractor Junction clocked a revenue of INR 121 Cr in the financial year 2024-25 (FY25) and projects to close FY26 with a top line of nearly INR 250 Cr.
Tractor Junction operates in the broader Indian tractor ecosystem, which is the largest in the world by volume. The country boasts an annual production of over 10 Lakh units. The market is poised for steady growth on the back of growing mechanisation, need for efficiency and a shortage of manual labor in rural areas.
As a result, the broader Indian tractor market is projected to become a $13 Bn opportunity by 2030, and Tractor Junction aims to tap into that with its financing-led model catering to rural India.
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