Nairobi-based agri-tech startup, Apollo Agriculture has secured a KSh1.07 billion loan from the United States International Development Finance Corporation (DFC) for onward lending to smallholder farmers in the country.
While announcing the 10-year loan, the DFC said the facility would help improve food security in Kenya by boosting Apollo’s ability to support smallholder farmers.
In May last year, the firm raised a total of $6 million in its Series A round of funding, seekibg to partner with more farmers, raise its working capital, expand its product offerings, and grow its team.
Apollo Agriculture is a technology company based in Nairobi, Kenya, that helps small-scale farmers maximize their profits. The company bundles everything a farmer needs; financing, farm inputs, advice, insurance, and market access, when possible. It uses satellite data and machine learning to enable better credit decisions and automated operations that keep costs low and processes scalable.
The firm focuses on smallholder farmers in Kenya, helping them to access technology and resources to achieve better results on their plots.
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