Complete Farmer, an end-to-end agricultural marketplace, has raised $10.4 million ($7 million equity and $3.4 million debt) in a pre-Series A funding round to consolidate its efforts in the agricultural space.
The equity part of the funding round was co-led by The Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital (via its uMunthu II Fund in partnership with Goodwell Investments) with Proparco, Newton Partners and VestedWorld Rising Star Fund also participating.
The debt financing was provided by Sahel Capital’s SEFAA (Social Enterprise Fund for Agriculture in Africa) Fund, Alpha Mundi Group’s Alpha Jiri Investment Fund, and Global Social Impact Investments.
About The Company
Established in 2017, Complete Farmer is an end-to-end digital agriculture platform that provides industries with an easy way to cheaply source quality farm produce and individuals anywhere in the world with a convenient way to own a farm by eliminating middlemen and farm produce aggregators.
We are thrilled to welcome our new partner investors, who are seasoned experts in the industry and have a profound understanding of our mission which enables them make valuable contributions along our entire supply chain.
Desmond Koney, CEO of Complete Farmer
How The Company Works
Complete Farmer offers two primary solutions aimed at serving producers and agricultural commodity buyers. The first solution, CF Grower, is centered around the needs of African farmers. CF Grower supports these farmers in optimizing their agricultural productivity, gaining entry to global markets, and improving their overall living standards. It achieves this by providing precision farming tools and implementing data-driven cultivation protocols.
Conversely, CF Buyer targets global buyers by offering them a reliable and convenient channel to access agricultural commodities tailored to their specific requirements. Through this platform, buyers gain access to an extensive network of qualified producers. They can seamlessly procure quality-certified products via a simplified digital process, and closely monitor the progress of their orders from initiation to fulfillment. This transparency empowers buyers with full control over their procurement activities.
By The Numbers
- Complete Farmer reports that it has successfully united more than 12,000 farmers across five key regions in Ghana.
- The platform has also managed the cultivation of over 30,000 acres of land, facilitating the export of agricultural commodities to Asia, Europe, and other global destinations.
What They’re Saying
“At Complete Farmer, we are on a mission to revolutionize Africa’s agriculture value chain, to ensure competitiveness for all stakeholders involved ” said Desmond Koney, CEO of Complete Farmer. “
We are thrilled to welcome our new partner investors, who are seasoned experts in the industry and have a profound understanding of our mission which enables them make valuable contributions along our entire supply chain. It is a pleasure to have partners who share our belief in Complete Farmer’s potential impact on sustainable food production and food security in Africa and the rest of the world.”
Tamer El-Raghy, Managing Director of ARAF, says: “We are pleased to co-Lead this investment round, having been impressed with the progress that Complete Farmer has made in facilitating access to global trade for Ghanaian farmers, as well as introducing them to new crops and sustainable farming practices.
Our goal at ARAF is to invest and grow local enterprises that support smallholder farmers in building resilience to climate change. Complete Farmer’s technology platform and farming protocols enable farmers’ access quality inputs, agronomical support, and premium markets, resulting in improved yields and income as reported by the farmers themselves.
What Happens Next
Complete Farmer is working on a vendor platform designed to enable farmers to acquire fertilizers and essential commodities, enhancing the efficiency of their farming operations as well as developing an embedded finance product to simplify direct remittances from buyers to farmers.
Update: We updated our article to correct the co-founders of the company and took out the revenue numbers because it was incorrect
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