The Venture Codex

Led · Equity · Jul 2024

Sqrups! is a retailer focused on the distribution of second-hand and liquidation merchandise through physical stores. Founded in 2014 by Iñaki Espinosa and based in Madrid, the company employs around 200 people. It opened 17 new stores through June and plans to exceed 100 stores by the end of 2024, targeting 200 stores by 2026. Sqrups! has positioned itself as a national reference in its sector and intends to use fresh capital to expand its store network and reinforce its presence in the domestic market. The article does not report revenue figures but highlights rapid store rollout as a primary operating metric.

Participated · Debt Financing · Sep 2023

Complete Farmer uses digital technology to build a more efficient agricultural supply chain for smallholder farmers in West Africa. The company offers a digital platform that connects more than 12,000 smallholder farmers directly to global food buyers and agricultural input suppliers. It also invests in the infrastructure required to strengthen the agricultural value chain and address issues such as limited market access, fragmented value chains, and inconsistent product quality. Founded in 2017, Complete Farmer aims to overcome these obstacles and boost agricultural expertise for its farmers. The firm is pursuing innovation and productivity improvements to provide smallholders with more stable incomes and stronger rural livelihoods. Recently it received a $5m (€4.3m) debt investment to support these efforts. Complete Farmer operates an end-to-end agricultural marketplace that links thousands of Ghanaian smallholder and commercial farmers to global buyers via two products: CF Grower (farmer-facing precision farming and cultivation protocols) and CF Buyer (buyer-facing procurement and quality-certified sourcing). The company leverages proprietary cultivation protocols and precision tools to help farmers meet global commodity specifications and reduce post-harvest losses. Since launching in 2017, Complete Farmer says it has organized over 12,000 farmers across five regions and overseen cultivation on more than 30,000 acres, taking a 30% commission on trade profits. The business has eight fulfillment centers in Ghana and plans to expand domestic operations and open centers in markets such as Togo. New product lines under development include an embedded finance remittance product and a vendor platform for inputs; management intends to use equity funding to scale products, form strategic partnerships, and grow the team. The company will use the debt facility for CAPEX and working capital to expand fulfillment capacity. Complete Farmer operates an agribusiness marketplace focused on Ghana’s under‑financed and under‑resourced smallholder farmers. The platform seeks to boost smallholders by linking them to buyers, financing and aggregation services. The company used a $50,000 cash prize from a pitch competition to help scale its operations to the point where venture funding became an option. Last March Complete Farmer secured a $400,000 seed round backed by Africa‑focused venture fund Ingressive Capital. The startup’s fundraising occurred amid a broader scarcity of agrifoodtech capital in Ghana, where agrifoodtech received only about $3 million of the roughly $160 million invested across Africa in the prior year. No operating metrics or revenues were disclosed in the article.