[vc_row full_width=”stretch_row” pix_particles_check=”” css=”.vc_custom_1648218350020{padding-top: 80px !important;padding-bottom: 80px !important;background-color: #ffffff !important;}”] Oikocredit, a social impact investor, contributed an extra US$ 1.5 million to Farmerline Group’s second closure of a pre-series A investment transaction.
This investment is a portion of the US$ 14.4 million that Farmerline has raised overall from investors such as FMO and ARAF.
A Ghanaian startup called Farmerline serves smallholder farmers and agribusinesses by offering digital technologies, logistics, field agents, and agricultural supplies.
Farmerline helps small-scale farmers adjust to shifting weather patterns in addition to offering links to global markets, free training in climate-smart farming methods, and premium fertilizer and seeds.
It has recently provided financing for crops and inputs totaling about US$ 18 million through franchise store connections with agribusinesses and input dealers.
Alloysius Attah, co-founder and CEO of Farmerline, said: “We are committed to aiding African farmers and agribusinesses during this crucial time. With the assistance of Oikocredit and our first-round investors, we will continue to provide distribution, logistics, and financial services, not only in Ghana but also in the Ivory Coast, where we have recently begun the process of expanding our team.
The company has recently started making plans to expand into Ivory Coast in an effort to help farmers who are struggling with rising fertilizer prices and shortages.
Source: techgistafrica.com