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Thursday, 26 April 2018

FARMCROWDY TO LINK UK-BASED NIGERIANS WITH INVESTMENTS IN THE AGRIC-SECTOR

Tope Omotolani, Co-Founder, Farmcrowdy
UK-based Nigerians are investing in Nigeria’s booming agricultural sector from the comfort of their homes, thanks to one and half year-old, VC-backed agritech platform, Farmcrowdy.
The company, launched in Nigeria in 2016, currently boasts of 10,000 acres and 7,000 signed up farmers across 9 states, in Africa’s most populous country. To-date, the platform has amassed an active sponsor base totalling over 1,000 sponsors, and total investments in excess of £1,620,000 with a growing number of sponsors located in the UK, thanks to the Diaspora’s strong connections to Nigeria.
Britain is the 4th largest source of remittance in the world with Nigeria receiving approximately £4 billion in remittances annually.
Onyeka Akumah, CEO and Co-Founder says,
“WITH THE CURRENT CLIMATE OF ECONOMIC UNCERTAINTY SURROUNDING THE UK WITH THE LIKES OF BREXIT FOR EXAMPLE, WE FEEL IT IS IMPORTANT THAT OPTIONS AND ALTERNATIVE MEANS OF INVESTMENT ARE MADE AVAILABLE. THE UK IS HOME TO OVER 1 MILLION NIGERIANS, AND WITH A MULTI-MILLION POUND REMITTANCE MARKET, NIGERIANS LIVING IN THE DIASPORA HAVE THE OPTION TO NOT ONLY SEND MONEY HOME TO THEIR FAMILIES FOR THEIR UPKEEP, BUT ALSO BUILD THEIR PERSONAL INVESTMENT PORTFOLIOS THROUGH INVESTING IN ONE OF THE COUNTRY’S LARGEST SECTORS.”

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 which was awarded at the Mobile World Congress 2018 in Barcelona, Spain.
Nairametrics 


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