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Agriculture: The Five Fintechs To Watch In 2021

Agriculture is often Fintech’s forgotten cousin behind consumer and business sectors. While also known as Agritech, ‘Fintech within agriculture’ relates specifically to the discipline of financial technology for agriculture businesses.

The industry has undergone significant and much needed financial innovation in recent years. Thanks, in no small part, to these five superstar innovators.

1. Figured

This Kiwi-founded solution provides farmers with a way to financially plan better. Figured’s platform combines planning and resource management tools with accounting software integration, providing farmers with a way to organise and manage their business finances within the unique dynamics of farming. With over 60 staff in Australia, New Zealand, the U.S. and U.K., Figured has no plans of slowing down.

2. Crowde

Founded out of the realisation that 78% of Indonesian farmers struggle to access traditional bank finance, Crowde provides a peer to peer lending platform between farmers and those wanting to explore a new opportunities within agriculture investment. Crowde will be an exciting Asian Fintech to watch, with already 18,000 customers and 62,000 registered lenders.

3. FarmDrive

For many small and remote Kenyan farmers, building a financial credit score for bank finance is difficult. FarmDrive is helping to change that. With technology that records income and expenses through their mobile phone, farmers can achieve improved creditworthiness. At the heart of this female-led Fintech is a clever data decision engine that will continue to help farmers in more exciting ways.

4. ProducePay

Founded in 2015, ProducePay is speeding up the cashflow cycle for fresh produce suppliers across the U.S., Mexico and Latin America. Through its bespoke supply chain platform, farmers can gain access to invoice finance before waiting for their buyers to pay. The Series A start-up is also proving to be an industry authority, providing daily market insights to thousands each morning.

5. MyAgro

On a mission to reduce the poverty of small farmers in Africa, MyAgro’s propriety software Mobile Layaway allows its customers to take prepaid plans for seed and other vital supplies in small increments. Its model is simple but hugely effective. The Mali founded social enterprise has already helped reduce the burden of debt for 89,000 farmers.

 

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Simon Farmilo

Simon Farmilo

Strategic Partnerships Director

Capify

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London

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This post is from a series of posts in the group:

Fintech innovation and startups

Disruption, destruction, harmony and creation; Fintech’s new frontier – a place to discuss the cutting edge of innovation.


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