How Apollo Agriculture is solving small-scale farmers’ credit problem in Kenya

Techpoint Africa

In 2020 alone, Apollo Agriculture has been able to close 25,000 farmers. In total, it is serving more than 40,000 farmers in Kenya.

However, the team isn’t stopping there. It has plans to rapidly scale by partnering and securing more farmers and to that end, the four-year-old startup raised a $6m Series A in May 2020. The round was led by Anthemis Exponential Ventures. Also in participation were The Omidyar Group’s Flourish Ventures, Leaps by Bayer, and Sage Hill Capital, among others.

Njenga also mentions that the company is securing working capital funding to finance loans and grant funding to support research and development (R&D).

After bringing its total raise to $7.6m, the chief customer officer says Apollo is focused on growth in the year ahead.

“We have got a great product that farmers love and we want to continue to scale it.”

To drive home its mission of maximising farmers’ productivity and profitability, per Njenga, Apollo is looking to transition its customers from subsistence farming to commercial farming so that they can make more money.

Learn more about the growth of Accion portfolio partner, Apollo Agriculture, in Techpoint Africa.

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