Agro fintech Nagro raised $49M in equity and debt to provide credit solutions for rural producers.
Kinea Ventures and Revolution, a fund of Oasis Ventures participated in the round.
With this funding, Nagro will invest in its two main verticals: credit analysis and risk monitoring, with its platform Agrisk, and fully digital credit allocations.
In total, Nagro has granted over $60M in credit to more than 5,000 rural producers and farmers. Nagro has analyzed over 500,000 agribusinesses through its platform, resulting in a 26% reduction in defaulted loans for companies that finance the agricultural sector.
Founded in 2017 by a multidisciplinary team led by the agronomist and rural producer Gustavo Alves, Nagro aims to reach over 10,000 rural producers by 2024.
Currently, more than 500,000 rural producers have already been analyzed by the AgRisk platform. The granting of credit is distributed in 40 different cultures and in more than 2,000 municipalities.
Read more on Tech Gist Africa:
Brazilian agtech iRancho raises $1.4M