Disrupting the $240bn market for agri-financing in Africa by providing digital loans to farmers.
Banks don't lend to farmers in Africa. Despite the fact that agriculture is 20-30% of GDP, African farmers get no loans to invest in their farms. This creates a $240bn opportunity that is now mainly serviced by very expensive informal money lenders that charge 10-20% per month (!). Our beneficiaries are farmers from small to large.
We provide affordable digital loans to farmers. We combine the efficiency of technology with a distribution model in which we partner with cooperatives, aggregators, etc. The technology allows us to service many farmers at scale at marginal costs. Our partnerships allows us to reach farmers at scale, collect data for our alternative credit scoring algorithms, and collect repayments for us.
The core team worked together prior for many years at an African fintech that builds new banks and helps digitize banks in East Africa. We are equal in brilliance and drive, yet differ in the expertise we bring that stretches agricultural finance, deep technology, product management, and data science. We know like no others that this market is ripe for disruption and how it can be done.