Farmerline Group has announced the second close of a pre-series A investment round with an additional US$ 1.5 million investment from social impact investor Oikocredit.
In total, Farmerline has raised US$ 14.4 million from investors including FMO and ARAF, of which this investment is a part.
Farmerline, a company based in Ghana, provides digital tools, logistics, field agents, and farm resources to serve smallholder farmers and agribusinesses.
In addition to providing farmers with connections to international markets, free instruction on climate-smart farming techniques, and high-quality fertilizer and seeds, Farmerline also helps farmers on a small scale adapt to changing weather patterns.
Through franchise store relationships with agribusinesses and input dealers, it has financed around US$ 18 million worth of inputs and crops in recent years.
Farmerline’s co-founder and CEO, Alloysius Attah, stated: “We are committed to supporting African farmers and agribusinesses throughout this critical period. Our distribution, logistics, and financial services will continue with Oikocredit’s help, as well as that of our first-round funders, not just in Ghana but also in the Ivory Coast, where we’ve recently started the process of growing our staff.
In an effort to assist farmers who are dealing with rising fertilizer prices and shortages, the company has lately begun planning to expand its operations into Ivory Coast.
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Zeepay, a Ghanaian payment company, has secured a $10 million Series A.5 funding round
Fido, a Ghanaian fintech startup, has raised $30 million in a Series A funding round
CarePoint, a Ghanaian healthcare startup, has raised a $10 million bridge investment
