Apollo Agriculture, an agri-fintech startup that helps small-scale farmers in Africa boost profitability and grow sustainably, has announced a significant funding partnership with Swedfund and ImpactConnect.
With the combined $10 million in debt investment, Apollo Agriculture is able to develop even quicker, which means more money in farmers’ pockets, more sustainable practices adopted faster, and more food security for people all over Africa.
Apollo Agriculture can provide small-scale farmers with the optimal finance, digital guidance, and high-quality farm goods they require to thrive, thanks to its automated operations technology and machine learning-powered credit models.
Since its founding, Apollo has been able to offer financial services and vital farm input goods to over 350,000 small-scale farmers in Kenya and Zambia thanks to its technological advancements.
Eli Pollak, CEO of Apollo Agriculture, expressed enthusiasm about the partnerships, stating, “This collaboration with Swedfund and ImpactConnect is a significant milestone for ApolloAgriculture. The investment positions us to rapidly scale our operations, enabling more farmersto access the essential products and financial services they need to feed their families and communities and adapt to climate change. This funding unlocks the potential to serve 400,000 additional farmers during the loan’s term, accelerating Apollo’s growth. We are grateful for the trust and confidence that both Swedfund and ImpactConnect have placed in our vision, and we look forward to achieving transformative growth together.”
Apollo Agriculture will utilise the funding from ImpactConnect and the Swedish development financing organisation to further expand its operations across Kenya. This will help more small-scale farmers become more resilient to climate change and boost their ability to farm more economically as well as sustainably.
Read more on Tech Gist Africa:
Shemba Pride, an agritech startup based in Kenya, has raised $3.7 million in pre-Series A funding
Tappi, a Kenyan startup, raises $1.5 million in pre-seed funding
BasiGo, a Kenyan e-bus startup, has raised $5 million in debt funding
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