Beyond Capital announced an investment of $627,000 to fund Tulaa’s expansion and a further development of its digital platform in Kenya. Tulaa is a mobile commerce solution that connects agricultural-input suppliers, financial service providers and commodity buyers to smallholder farmers.
The mobile commerce solution leverages on mobile technology to enable farmers to save and borrow purchase inputs, receive tailored agronomic advice and market their crops at harvest time. Tulaa also lowers the cost and risk for input suppliers, bank and off-takers to transact with rural customers and suppliers in Africa. This solution was incubated at Esoko and launched in Kenya in 2017.
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“Tulaa tackles the issues of financial inclusion and food security at the same time,” said Eva Yazhari, CEO of Beyond Capital Fund. “We are particularly excited about Tulaa’s ability to prevent loan diversion among smallholder farmers, and ultimately, provide market linkage to improve their creditworthiness and incomes.” She continued.
Beyond Capital is an impact investment fund that invests in for-profit social enterprises throughout India and East Africa. Its initial contribution to the $627,000 seed round of investment will be disbursed to fund Tulaa’s continued expansion in Kenya and for further development of Tulaa’s digital platform. Their investment will be matched by the Eckenstein Geigy Foundation.
It’s not the first time for Beyond Capital Fund to invest in Tulaa. In 2017, Tulaa raised $627,000 in fundraising led by AHL Ventures Partners, Beyond Capital Fund, and two other investors.
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