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The Colombian fintech was the winner of Glocal’s Agri Food Tech 2020 program

September 7, 2020

As part of the Aapresid Congress, the winners of the Glocal Agri Food Tech 2020 acceleration program were selected. First prize went to Agrapp, a Colombian startup that has created a web funding platform for small and medium-sized producers to offset opportunities in the rural sector. This was reported by Colombia Fintech on September 6th.

According to her, the company was founded two years ago. David Duarte, mechanical engineer and current CEO, together with a partner, took into account the reality of farmers in Colombia and tried to provide answers with technological solutions. They found there was no interest and found there were problems with access to finance.

David Duarte stated: “A farmer in Colombia has very few options for accessing credit. More than 85% of small and medium-sized manufacturers have never turned to a bank branch to apply for a loan, as there are many barriers to exclusion that have not been overcome”.

The Colombian fintech was the winner of Glocal’s Agri Food Tech 2020 programThe Colombian fintech was the winner of Glocal’s Agri Food Tech 2020 program

“”We are entering the world of crowdfunding without being a net or natural crowdfunding because ultimately we are more focused on developing financial products that adapt to the needs and capacities of the rural sector“, He added.

What is the platform doing?

The platform connects a community interested in investing in small and medium-sized farmers (starting at around USD 300) and accessing certain returns.

Duarte stated: “We are highly oriented to be a financial solution for small and medium farmers. The largest producer we supported has five hectares, but one hectare on average. They grow exotic fruits of the export type: passion fruit, gulupa, granadilla and cape gooseberry or fisalis. We also structure financial products for cocoa and avocado. “

It should be mentioned that, from Agrapp, they accompany you both financially and technically. You offer professional support under the guidance of an agronomist and are also responsible for marketing under a contract.

“Thanks to this model we managed to wear today Investments in agricultural projects of more than $ 200,000. Today we are represented in more than six of the 32 departments in Colombia and can connect more than 100 investors with around 25 productive projects. We achieve that people invest an average of more than 1,200 dollars through our platform, ”emphasized the CEO.

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