Leading agri-fintech startup, Apollo Agriculture, has secured a US$10 million investment from Swedfund and ImpactConnect to fuel its rapid expansion, enabling increased earnings for farmers, faster adoption of sustainable practices, and increased food security across Africa.
Enthused about the partnership, CEO of Apollo Agriculture, Eli Pollak says, “This collaboration with Swedfund and ImpactConnect is a significant milestone for Apollo Agriculture. The investment positions us to rapidly scale our operations, enabling more farmers to access the essential products and financial services they need to feed their families and communities and adapt to climate change. The funding unlocks the potential to serve 400,000 additional farmers during the loan’s term, accelerating Apollo’s growth. We are grateful for the trust and confidence that both Swedfund and ImpactConnect have placed in our vision, and we look forward to achieving transformative growth together.”
Apollo Agriculture is dedicated to helping small-scale farmers across Africa increase their profits and farm more sustainably, utilising machine learning-based credit models and automated operational technology. This allows farmers access top-notch farm products, well-optimised financing, and digital advice essential for their success. Since inception, Apollo’s technology has empowered the provision of vital farm input products and financial services to more than 350,000 small-scale farmers in Kenya and Zambia.