The GSMA Innovation Fund Rumsan Associates
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Rumsan Associates

Nepal | Early Warning System, Finance, Humanitarian

The problem

In Nepal, 15.1% of the total population reside in extreme poverty and are highly susceptible to disasters. The current response and recovery mechanisms are slow, taking months to actualise, thereby increasing the risk of these individuals being trapped in the poverty cycle. Drawing insights from Rumsan’s prior experiences with cash and voucher programmes
(CVA) in targeted areas, beneficiaries expressed the challenges of not having easy and timely access to cash and information in times of such crises, reinforcing the need for anticipatory actions, which could help them prepare and make them more resilient against such crisis and climate shocks. Moreover, traditional aid distribution mechanisms are inefficient, costly, and susceptible to fraud and mismanagement.

The organisation

Rumsan is a blockchain company focused on social impact. Their solution, Rahat envisions to build resilience against the impact of climate shocks through decentralised and transparent financial access for the last billion. As an open-source financial access platform, Rahat supports the most vulnerable with immediate access to finance during and before crisis with a transparent and inclusive aid distribution; promotes financial education for effective use of fintech through local community members; and builds resilience through our expansion with micro-insurance for small-holder farmers.

Project description

The GSMA is supporting Rumsan to:

  • Update the Rahat platform with a blockchain powered AA module to support with timely humanitarian responses to prepare for a crisis.
  • Support 5,000+ vulnerable beneficiaries in a flood prone area in Terai, Nepal with early warning signs and access to cash before the flood.
  • Trigger sensing and confirmations that are linked to a smart contract to automatically send early warning signs in the form of voice recordings and SMS to beneficiaries.
  • Transfer tokens to pre-assigned beneficiaries, saving time and speeding process management.
A message from the Chief Development Officer
“Very grateful to IFRC/DRC and the GSMA Innovation Fund for believing in our mission of helping the most vulnerable ones to get access to immediate finance against climate shocks using innovative technologies. Their invaluable support has provided us an opportunity to test and actualise the potential of our product, Rahat.”
– Shristi Piya, Chief Development Officer
Founders/Co-Founders
A portrait of a man with a light beard smiling at the camera, wearing a dark blue shirt representing the GSMA Innovation Fund for Anticipatory Humanitarian Action, and his arms crossed.

Ruchin Singh, Co-Founder and COO

A woman with shoulder-length hair smiling at the camera, wearing a black and white polka dot blouse, standing with arms crossed, represents the GSMA Innovation Fund for Anticipatory Humanitarian Action.

Rumee Singh, Co-Founder and CEO

Team | 11 - 50 employees

Videos
Grant Status
Active
Theme(s)
The GSMA Innovation Fund for Anticipatory Humanitarian Action
Donor(s)
SDGs impacted
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