Farmcrowdy connects small-scale Nigerian farmers with finance sourced from individuals and corporates via an online sponsorship model. The company has empowered over 12,000 farmers across 14 states since its 2016 founding. It works with partners such as Syngenta and the International Institute of Tropical Agriculture and has launched the Farmcrowdy TFS App to profile farmers and manage inventory, data collection and analysis. Farmcrowdy also announced the Farmcrowdy Group to support its mandate of building agritech solutions aimed at achieving food security in Africa. The startup plans to scale operations into 20 Nigerian states, bring more farmers and sponsors into its program, and explore drone services, 3D mapping and additional strategic partnerships. Financially, it has raised a total of $2M to date following an additional $1M seed investment. Farmcrowdy operates a digital platform that connects small-scale Nigerian farmers with sponsors who invest in discrete farm cycles (e.g., poultry, cassava). Sponsors receive on-the-ground support for farms via Farmcrowdy’s Technical Field Specialists, who provide training, quality inputs and pre-arranged buyers to sell harvests. Profit shares are structured so sponsors receive their original sponsorship plus 40% of profit, farmers receive 40% and Farmcrowdy receives 20%. The company recently launched a mobile app that lets sponsors and followers track farm progress via regular updates, images and videos. To date Farmcrowdy has recorded close to 1,000 unique farm sponsors, aggregated about 4,000 acres across 8 Nigerian states and worked with more than 2,000 small-scale farmers. It raised $1M in seed funding to scale operations and expand its reach.

Total raised

$2M

Funding rounds

2

Latest round

Seed

Latest activity

Mar 2019