Lagos (Nigeria), February 2018. GreenTec Capital Partners is very pleased to announce that Farmcrowdy has been selected as the recipients of a $325,000 (£250,000) GSMA Ecosystem Accelerator grant. The company will use the funds to further develop features on its mobile application.
The GSM Association (GSMA) is the global trade organization for mobile network operators and offer grants through the Ecosystem Accelerator Programme’s Innovation Fund. The fund’s mission is to build synergies between start-ups and mobile operators, with the aim to scale innovative and sustainable mobile services in emerging markets. Farmcrowdy was selected as one of 15 startups from among more than 550 applicants from 40 countries
Farmcrowdy will use the funding to support the further development of its mobile application, particularly the implementation of features for smallholder farmers to interact with the agricultural platform. The company’s innovative approach to agri-tech matches farm sponsors with farmers to mutual benefit. Farmers are provided an alternative source of financing to improve their farms, while sponsors are offered attractive micro-investments.