Enabling smallholder farmers to use financial technologies

20 April 2015. Village Capital has launched its FinTech for Agriculture: East Africa 2015 accelerator programme at a launch event in Nairobi, revealing the cohort of 12 startups selected to participate in the programme.

The Village Capital flagship accelerator programme returns to East Africa for the third time; with over 125 applications received for the 2015 programme from nine African countries. Village Capital’s investment committee selected the 12 most outstanding start-ups on the basis of how their ideas have the potential to increase incomes for smallholder farmers by improving their access to financial services. The 12 start-up firms selected to join the three month programme are:

1. Atikus Insurance expands access to credit by increasing the capacity of MSME lenders via reimagined insurance and technology risk solutions.
2. Chamasoft is a web and mobile app to automate recordkeeping for investment groups.
3. Ensibuuko builds ICT solutions to enable enterprises deliver financial services efficiently and to scale rapidly, especially in underserved communities.
4. FarmDrive is transforming how smallholder farmers access financial services.
5. Farmerline provides accurate and timely agricultural information to farmers and also provides technology to stakeholders to work better.
6. M-Shamba is an interactive platform for smallholder farmers and traders.
7. Mobipay provides technology solutions to various economic sectors to drive commerce and trade.
8. nanoCredit Technologies has developed lending and de-risking engines, providing structured digital finance for small farms.
9. Rangerland Solutions is an online livestock marketing platform that directly connects buyers and sellers, reducing marketing costs.
10. Redcore Interactive is a platform for online international money transfers to mobile money in Africa.
11. SmartMoney provides free-of-charge branchless mobile banking to unbanked rural communities in Uganda and Tanzania.
12. YieldUganda sources high quality, traceable food products for local and export markets.

The chosen startups have commenced the three month programme focusing on business model canvassing, customer hypothesis testing, financial modeling, partnership and customer development, and investor engagement. The cohort will present to potential partners and customers at a pitch day, as well as pitch to investors at an investor demo day.

The accelerator willsee the 12 startups participate in three workshops to be held in Nairobi, Kenya, on April 15-18, May 19-22 and June 22-25.