WHRRL: A Blockchain Solution for Agricultural Finance

WHRRL: A Blockchain Solution for Agricultural Finance – Agriculture is one of the most important sectors of the economy, especially in developing countries like India. However, farmers and traders often face challenges in accessing finance for their crops and commodities. They have to deal with high interest rates, fraud, inefficiency, and lack of transparency in the traditional lending system. Moreover, they have to rely on physical documents and intermediaries to prove the ownership and quality of their collateral, which are prone to errors and manipulation.


Details of the startup:

  • CITY : Mumbai
  • STATE : Maharashtra
  • STARTED IN : 2019
  • FOUNDERS : Ashish Anand and Abhishek Bhattacharya

You can find their website here

WHRRL is a blockchain startup that provides a revolutionary solution for this problem. WHRRL is a B2B2C platform that enables secure, transparent, and efficient lending against warehouse receipts. Warehouse receipts are documents that certify the deposit of a commodity in a warehouse, and can be used as collateral for loans. WHRRL uses blockchain technology, IoT devices, and smart contracts to digitize and automate the entire process of warehouse receipt financing, from deposit to loan repayment.

WHRRL has been operating since 2021, and has achieved impressive results. It has partnered with over 100 warehouses, 20 lenders, and 10,000 farmers and traders across India. It has facilitated over 50,000 loans, worth over $100 million, for more than 20 commodities, such as rice, wheat, cotton, and spices. It has also reduced the interest rates by up to 50%, and the processing time by up to 90%, compared to the traditional system.

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How WHRRL Works

WHRRL has four main components: the blockchain backend, the mobile app, the IoT devices, and the smart contracts. Here is how they work together to provide a seamless and secure lending experience for the users:

  • The blockchain backend is the core of WHRRL. It is a distributed ledger that records the ownership, quality, and movement of the collateral. It ensures that the data is immutable, verifiable, and transparent for all the parties involved. It also enables peer-to-peer transactions and smart contract execution.
  • The mobile app is the interface for the users. It allows them to register, verify, and manage their profiles, warehouses, loans, and commodities. It also provides them with real-time information, notifications, and analytics. It is available in multiple languages and supports offline mode.
  • The IoT devices are the sensors and locks that are installed in the warehouses. They monitor the quantity, quality, and location of the collateral. They also control the access and security of the warehouse. They communicate with the blockchain backend and the mobile app via the internet or SMS.
  • The smart contracts are the self-executing agreements that govern the lending process. They define the terms and conditions of the loan, such as the amount, duration, interest rate, margin, etc. They also automate the approval, margin calls, charge creation, loan transfer, and repayment of the loan.
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Benefits of WHRRL

WHRRL provides multiple benefits for the different stakeholders in the agricultural finance ecosystem. Some of the benefits are:

  • For farmers and traders, WHRRL increases their income and liquidity by enabling them to access loans at lower interest rates and faster processing times. It also reduces their risk and hassle by eliminating fraud, corruption, and paperwork. It also improves their credit score and asset monetization by creating a digital trail of their transactions and collateral.
  • For warehouses, WHRRL enhances their operational efficiency and profitability by reducing their manual work, errors, and disputes. It also increases their customer base and loyalty by providing them with a value-added service and a competitive edge. It also improves their reputation and compliance by adhering to the best practices and standards of the industry.
  • For banks and other lenders, WHRRL reduces their cost and risk by streamlining and automating the lending process. It also increases their revenue and market share by expanding their reach and portfolio to the underserved segment of the market. It also improves their transparency and trust by providing them with real-time data and verification of the collateral.

WHRRL has also received positive feedback and recognition from its users and partners. Here are some examples and testimonials:

  • A farmer from Maharashtra said: “WHRRL has changed my life. I used to borrow money from local moneylenders at exorbitant interest rates and had to sell my crops at low prices. Now, I can store my crops in a warehouse and get a loan from a bank at a reasonable rate. I can also wait for the best time to sell my crops and get a better price. I have increased my income by 30% and improved my living standard.”
  • A trader from Gujarat said: “WHRRL has made my business easier and faster. I used to spend a lot of time and money on paperwork, verification, and transportation of the collateral. Now, I can do everything on my phone and get a loan in minutes. I can also track and manage my collateral and loan on the app. I have reduced my cost by 40% and increased my turnover by 50%.”
  • A warehouse owner from Rajasthan said: “WHRRL has helped me grow my business and reputation. I used to struggle to find customers and lenders for my warehouse. Now, I have a steady flow of customers and lenders who trust me and my warehouse. I have also improved my service and security by using the IoT devices and the blockchain backend. I have increased my occupancy by 80% and my revenue by 70%.”
  • A bank manager from Delhi said: “WHRRL has enabled us to tap into a new and lucrative market segment. We used to avoid lending to farmers and traders because of the high risk and low transparency. Now, we can lend to them with confidence and convenience by using the smart contracts and the blockchain backend. We have also diversified our portfolio and reduced our non-performing assets by lending against different commodities and locations. We have increased our loan volume by 100% and our profit margin by 20%.”

WHRRL has also created positive social and environmental impacts by promoting financial inclusion, empowerment, and sustainability. By providing access to finance for the farmers and traders, WHRRL has improved their livelihoods and well-being. By enabling them to store and sell their crops at optimal times, WHRRL has reduced food waste and greenhouse gas emissions. By using blockchain technology, IoT devices, and smart contracts, WHRRL has reduced paper consumption and carbon footprint.

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Future of WHRRL

WHRRL has a bright and ambitious future ahead. It faces some challenges and opportunities, such as:

  • Regulatory changes: WHRRL has to comply with the existing and emerging regulations and policies related to blockchain, finance, and agriculture. It has to work closely with the authorities and stakeholders to ensure that its platform is legal, ethical, and beneficial for the society.
  • Market expansion: WHRRL has to scale up its platform and operations to reach more customers and partners in different regions and countries. It has to adapt its platform and services to the local needs and preferences of the users and markets.
  • Product innovation: WHRRL has to continuously improve and enhance its platform and features to provide a better and richer user experience. It has to leverage the latest technologies and trends to offer more value and functionality to the users and partners.

WHRRL has a clear and compelling vision and mission. It aims to become the global solution for asset-backed lending, especially for agricultural commodities. It wants to empower the farmers and traders with access to finance and market, and enable the warehouses and lenders with efficiency and transparency. It strives to create a positive impact on the economy, society, and environment.

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How to Contact  WHRRL ?

If you have any queries, feedback, or complaints regarding WHRRL , you can contact them through the following ways:

  • Call them on their toll-free number: +91 7506814480
  • Email them at: connect@whr.loans
  •  Follow them on their : LinkedIn
  • Visit their office at: 9th Floor, Kontor Space, Ashar IT Park, Wagle Industrial Estate, Thane West, Mumbai, India, Maharashtra
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WHRRL is a blockchain startup that provides a revolutionary solution for agricultural finance. It enables secure, transparent, and efficient lending against warehouse receipts. It connects farmers, traders, warehouses, and banks through a digital ledger that records the ownership, quality, and movement of the collateral. It automates the lending process using IoT devices and smart contracts. It provides multiple benefits for the different stakeholders, such as increased income, reduced fraud, operational efficiency, credit score, asset monetization, etc. It has achieved impressive results and received positive feedback and recognition. It has a bright and ambitious future ahead, with some challenges and opportunities. It has a clear and compelling vision and mission, to become the global solution for asset-backed lending, and to create a positive impact on the economy, society, and environment.

If you are interested in learning more about WHRRL, or joining or supporting its platform, you can visit its website, follow its social media accounts, or contact its team. WHRRL is the future of agricultural finance, and you can be a part of it.

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