Crowde raises seed funding from Gree Ventures
By Digital News Asia October 17, 2018
- Has disbursed RM8.19 million, from 24,000 investors to 10,000 farmers in 276 villages
- Focuses on agriculture, livestock and fisheries projects
INDONESIA-based Crowde, an agricultural startup announced the acquisition of additional investment from Gree Ventures to support it in realising its goal of digitising the agricultural process from upstream to downstream.
This funding will be used to expand the reach of farmers who have difficulties in raising capital in developing their businesses and making them agropreneurs to create an efficient agricultural ecosystem.
Crowde CEO Yohanes Sugihtononugroho, said, "This seed funding is a form of Gree Ventures' and other investors trust towards us. These funds will escalate the number of farmers we can assist through education in financial management and technology as well as working capital. We acknowledge that capital is one of the essential problems for farmers, as they are struggling to receive loans from financial institutions.”
As a platform that understands farmers, Crowde aims to create a sustainable agricultural ecosystem by bringing together farmers and diversified parties who can facilitate farming.
To date 2018, Crowde has disbursed 30 billion rupiah (RM8.19 million), collected from 24,000 investors to 10,000 farmers in 276 villages in Indonesia with a focus on agriculture, livestock and fisheries projects.
"We hope that with the additional capital we can give to farmers, they can improve the quality of their agricultural products so their income increases," added Yohanes
In the effort to build a sustainable ecosystem, Crowde prioritises education for farmers in terms of technology and financial management, which are known as their main obstacles in developing their businesses.
In addition, Crowde also collaborates with farm supply stores and off-takers throughout Indonesia to enforce a zero cash society, so farmers no longer receive capital in cash.
"Our goal is to help more than 100 thousand farmers with the value of capital distribution reaching 70 billion rupiah in 2018. We will continue to strive to become a sustainable ecosystem enabler in agriculture that our stakeholders can trust," said Yohanes.