Complete Farmer, a comprehensive digital agricultural marketplace based in Ghana has just closed a US$10.4 million pre-Series A funding round to fuel its growth. The platform links African farmers and global companies to competitive marketplaces, resources, data, and each other.
The US$10.4 million funding round included both debt and equity, with the Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital through its uMunthu II Fund working with Goodwell Investments to co-lead the equity side. Proparco, Newtown Partners, and the VestedWorld Rising Star Fund joined them.
The Social Enterprise Fund for Agriculture in Africa (SEFAA) of Sahel Capital, the Alpha Jiri Investment Fund of the Alpha Mundi Group, and Global Social Impact Investments all contributed debt funding to finance CAPEX and working capital investments in support of both short- and long-term growth.
Complete Farmer, a company founded in 2017, provides farmers and buyers of agricultural commodities with two major solutions.
Its agricultural product Through precision farming technologies and data-driven cultivation techniques, CF Grower assists African farmers in increasing their output, gaining access to international markets, and improving their standard of living. On the other side, CF Buyer helps buyers all around the world by giving them dependable, simple access to goods produced to their requirements.
Desmond Koney, CEO of Complete Farmer, stated, “At Complete Farmer, we are on a mission to revolutionize Africa’s agriculture value chain, to ensure competitiveness for all stakeholders involved. We are thrilled to welcome our new partner investors, who are seasoned experts in the industry and have a profound understanding of our mission which enables them to make valuable contributions along our entire supply chain. It is a pleasure to have partners who share our belief in Complete Farmer’s potential impact on sustainable food production and food security in Africa and the rest of the world.”
Up to this point, Complete Farmer has connected over 12,000 farmers from five key regions of Ghana, managed the production of more than 30,000 acres of land, shipped goods to Asia, Europe, and the rest of the world, and decreased post-harvest losses.
The funds raised will be used to increase its reach even further, support expansion goals, enable operations to scale, and improve its technological framework.
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Oyster Agribusiness, an agri-tech startup in Ghana, secures $310k in funding
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