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Ashish Anand on Warehouse Receipt Finance
Ashish is the CEO of Whrrl
How WHR Lending Works
Warehouse Receipt (WHR) Lending is one of the most innovative and oldest lending products, from Mesopotamian times to modern day Mumbai; It's a system of financing working capital to Farmers, Commodity Traders and Producer Companies against commodities deposited in warehouses and pledged with the lenders.
Whrrl is a B2B2C Blockchain PaaS startup working in the arena of Warehouse Receipt Finance that helps Farmers, Traders & Producer Companies in raising working capital to cover crop cycles ranging from 6-12 Months.
Whrrl collects data from warehouses with the help of IoT devices and puts that data on Blockchain creating an immutable record of Collateral and its attributes like Ownership, Quality and Location. This helps lenders in making uniformed decisions, cuts the role of intermediaries and reduces the risk of fraud.