Winich Farms operates a platform that connects rural farmers to off-takers (retailers and informal processors) via agent-run collection points and a mobile app where retailers place orders that agents fulfill within 24–72 hours. The company negotiates fair prices with farmers, sells to off-takers at a slight markup (currently ₦720 per kg of paddy rice excluding delivery), and splits revenue among farmers, agents, and the company. It processes monthly orders up to ₦3.7 billion (~$2.2M) and reports a GMV of $30 million, with agent count growing from about 1,000 in 2022 to over 4,000 in early 2024. Winich says it serves more than 150,000 users across farmers, agents, and truck drivers and provides credit access by linking farmers who complete supply cycles to financial partners. The company issues Verve cards to underbanked farmers in partnership with Sterling Bank and plans to issue 195,000 cards in the coming months. To reduce delivery times to distant states, Winich will establish regional fulfillment centres across Nigeria’s six geo-political zones and invest in technology and card operations to scale. Winich Farms operates a farm-to-retailer agritech platform that connects food producers (farmers) directly to off-takers such as small retailers and factories, cutting out excessive middlemen. The platform resolves transactions and settlements within 24 hours and uses a hybrid offline-online model—USSD, SMS, collection-centre agents and a mobile app—to onboard less tech-savvy farmers. The mobile app, launched in June, adds in-platform real-time driver tracking, inventory planning, and payment options; the company is also developing a buy-now-pay-later credit product and plans to provide inventory insurance. As of Jan 2022 Winich reports over 29,000 active food producers, the capacity to move 127 tonnes of produce every 24 hours, and $17.1 million in transaction volume across 461 agents/collection centres. The platform services 500+ retail groups and informal processors across eight cities and has created jobs for hundreds of truck drivers while aiming to reduce food waste and improve food quality and distribution efficiency at affordable costs.

Total raised

$4M

Funding rounds

3

Latest round

Series A

Latest activity

Oct 2024