Kenyan-based B2B agritech startup ‘Tambia’, has secured $100,000 funding from US-based impact investor Gray Matters Capital. Tambia is a mobile-based cashless platform which connects rural smallholder farmers urban buyers. They intend to leverage the fund to roll out their pilot phases in the cities of Mombasa and Kisumu. They also plan to add fruits, nuts and eggs to their products catalogue.
Taimba was founded in April 2017 by Dominique and Joan Kavuisya. The platform sources for fresh farm produce at the best price from farmers. After which they offer these fresh produce to retailers at low market prices, the retailers in return sell to consumers at affordable prices. Taimba in essence helps reduce wastage, by offering farm produces to retailers at affordable prices without shortchanging the farmer.
See also: India’s PayMate secures $25 Million to Expand across India and Africa
The platform connects rural smallholder farmers to urban buyers. It also delivers directly to informal greengrocers, schools, hospitals and restaurants within Nairobi. This process cuts out middlemen and in return reduces the agricultural value chain.
They currently have over 2,000 farmers in its portfolio and about 15 farmer Savings and Credit Co-operatives, who sell produce such as potatoes, tomatoes, cabbages and carrots. They have about 310 customers categorized in the manner; informal greengrocers (85%), restaurants and cafés (10%) and Schools and hospitals (5%). Taimba also partners with financial institutions to provide loans for farmers, who intend to purchase certified seeds and fertilizers.
More on TechGist Africa:
- WorldRemit, MFS Africa to launch P2P Mobile Money Services in Africa
- China’s Didi Chuxing, UAEs Symphony Investment partners to Launch a JV in MENA
- Interswitch set to List on NSE and LSE, Plans to Raise $1 Billion
- Microsoft to invests $1bn in Elion Musk’s Human-Brain-like AI lab
- Singapore’s Fintech Platform CredoLab set to Launch in three African Countries
Comments 1