Farmcrowdy is a digital and agrictech company aimed at bringing innovations with technology to the Agricultural sector by improving living conditions of small-scale farmers in Africa by involving everybody.
As Nigeria is currently struggling towards developing other sectors, more and more people and company are now focusing on Agriculture. Farmcrowdy had come with the aim of simplifying the level of involvement of corporate and non-corporate Nigerians in the agricultural sector. Farmcrowdy connects sponsors – investors, with small-scale farmers to boost food production in Africa; connecting farmers to the right market by helping them in sourcing for processors or off-takers. These off-takers buy their harvest and make available profits for the farmers to get a decent living from farming as a business.”
Level of Operation/Growth
Farmcrowdy currently operates in 9 States out of the 36 states (25 percent national coverage) in Nigeria.
. Currently farming on
10,000 hectares with engagement of over
. 7,000 signed up farmers.
. Over 1,000 sponsors
. Harvest Return
Total investments from outside of Nigeria in excess of £1,620,000.
With sponsorship starting from N90,000 (£175), Farmcrowdy connects small scale farmers with sponsors, who invest in crop cycles. A crop cycle can be anything from poultry [3-5 months] to cassava [9 months]. The farmers receive on-the-ground advice from farm specialists – training in better agriculture practices, different type of crops and production methods. When the yield is sold at harvest, the sponsor receives their original investment + 40% of the profit, the farmer receives 40% of the profit and Farmcrowdy receives 20% of the profit. Farm Sponsors can get between 6-15% on their returns.
The multi-award winning startup recently raised £700,000 as equity investment to grow it’s operations in 2017. In early 2018, it also announced that it was a recipient of a £250,000 grant from dedicated GSMA global team Mobile for Development as part of the GSMA Ecosystem Accelerator Innovation Fund