Crowde Announces Fresh Funding From GREE Ventures
Fresh funding to be used for acquiring more farmers
Kristin Siagian - 19 October 2018
An agritech startup engaged in Crowde's investment segment announced fresh funding from GREE Ventures. There's no value mentioned on the secured funding in this round. The fresh funding is planned to be used for broader reach of farmers having capital issues to develop business and to turn farmers into agropreneur in order to create an efficient agricultural ecosystem. It's part of Crowde's objective.
Yohanes Sugihtononugroho, Crowde's CEO said the additional funding is GREE Venture's form of trust with other investors to the agritech startup.
Earlier this year, Crowde has launched a special app to facilitate investors in providing loans. It allows investors to select a project to invest in and to monitor the investment output.
"The fresh funding is to be used to acquire more farmers using additional capital. We're aware of many farmers with capital issues, it's often hard for them to get loans from financial institutions," he explained.
As a platform running the business in the agriculture sector, Crowde strives to understand farmers deeper. They want to make a sustainable agriculture ecosystem by gathering farmers with various parties to facilitate a better project. During 2018, Crowde has succeeded in distributing funds worth Rp30 billion raised from 24,000 investors to 10,00 farmers in 276 villages in Indonesia focused on agriculture, livestock, and fishing projects.
"We expect with the additional capital to be distributed to farmers, they can improve the agricultural products quality, therefore, capable to earn more," he added.
In its attempts to build a sustainable ecosystem, Crowde focuses and prioritizes education to farmers in terms of technology and financial management. It is also the main issue for farmers to develop business. Crowde also partners with farm shops and off-taker (in all over Indonesia) to perceive zero cash society for farmers no longer have to accept capital in cash.
"We determine to facilitate up to 100 thousand farmers with Rp70 billion worth of capital distribution in 2018, we'll keep trying to be the agricultural capital platform with trust and cooperative spirit," he concluded.
– Original article is in Indonesian, translated by Kristin Siagian