Apollo Agriculture says it has signed a significant financial partnership with Swedfund and ImpactConnect to help in its expansion strategy.
The agri-fintech startup dedicated to helping small-scale farmers across Africa increase their profits and farm more sustainably is upbeat that the combined $10 million debt investment will further accelerates Apollo Agriculture’s rapid growth,
The move will enable increased earnings for farmers, faster adoption of sustainable practices, and increased food security across Africa.
Apollo Agriculture’s machine learning-powered credit models and automated operations technology enable them to scalably serve small-scale farmers to access the high-quality farm products, optimized financing, and digital advice they need to succeed.
Apollo’s technology has enabled it to provide essential farm input products and financial services to over 350,000 small- scale farmers across Kenya and Zambia since its launch.
Financing provided by the Swedish development finance institution and ImpactConnect will be utilized to expand Apollo Agriculture’s activities across Kenya, enabling more small-scale farmers to farm more profitably and sustainably and increase their resilience to climate change.
Eli Pollak, CEO of Apollo Agriculture, expressed enthusiasm about the partnerships, stating,
“This collaboration with Swedfund and ImpactConnect is a significant milestone for Apollo
Agriculture.
The investment positions us to rapidly scale our operations, enabling more farmers to access the essential products and financial services they need to feed their families and communities and adapt to climate change.
This funding unlocks the potential to serve 400,000additional farmers during the loan’s term, accelerating Apollo’s growth.
We are grateful for the trust and confidence that both Swedfund and ImpactConnect have placed in our vision, and we look forward to achieving transformative growth together.”
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