Verqor uses an alternative underwriting process that relies on farm productivity data and NDVI factors (supply chain, weather, price fluctuation and yield information) rather than traditional credit scores. It issues cashless credits and delivers inputs directly to farmers, while connecting them with corporates, importers and exporters who buy their products. Farmers repay loans through Verqor’s platform after the crop cycle completes. To date Verqor has pre-certified farmers for third-party financial institutions but plans to become an on-balance lender for roughly 60% of its business while keeping 40% off-balance. The company aims to approve loans in 48 hours or less and will invest in back-office automation and AI to digitize processes. Verqor will also expand throughout Mexico and continue building its network of ag corporates and partners. Founded in 2019 in Mexico, Verqor builds a platform that digitizes informal agricultural transactions to enable traceability and access to credit for small and medium farmers. The platform underwrites credit using productive analyses and alternative data, places approved credit as a balance for farmers to buy inputs (fertilizer, seeds, agro‑chemicals, biologicals, insecticides) and delivers those inputs directly. Verqor also connects farmers with buyers such as AB InBev, Heineken and exporters/importers in the U.S., routing payments through its platform to create transaction history. A core company goal is to reduce intermediaries and formalize supply‑chain traceability so farmers can access additional agtech tools. Verqor currently operates as a non‑banking financial institution and must run credit through third parties due to fintech regulations; the company plans a Series A to make itself the direct lender for credits it places. Short‑term plans include commercial growth across Mexico and, with investor support, potential Latin American expansion within roughly two years.

Total raised

$10M

Funding rounds

3

Latest round

Series A

Latest activity

Oct 2023