๐ฃ๐๐บ๐ฝ๐ธ๐ป ๐ฆ๐ฒ๐ฐ๐๐ฟ๐ฒ๐ ๐๐ป๐๐ฒ๐๐๐บ๐ฒ๐ป๐ ๐๐ผ ๐ง๐ฟ๐ฎ๐ป๐๐ณ๐ผ๐ฟ๐บ ๐๐ด๐ฟ๐ถ๐ฏ๐๐๐ถ๐ป๐ฒ๐๐ ๐๐ถ๐ป๐ฎ๐ป๐ฐ๐ถ๐ป๐ด ๐ถ๐ป ๐๐ณ๐ฟ๐ถ๐ฐ๐ฎ. South African startup pumpkn.io has secured investment from Renew Capital to address the significant funding gap in Africa's agricultural sector. Despite agriculture contributing about 35% to the continent's GDP and supporting nearly half of Africa's 1.4 billion population, many agribusinesses struggle to access necessary financing. Pumpkn aims to revolutionize agribusiness funding by leveraging data for credit assessments and facilitating connections between lenders and bankable agricultural small and medium-sized enterprises (agri-SMEs). The platform offers fast loan approvals, paperless processes, and seamless accessibility by directly linking to agri-SMEs' bank accounts. Zaheer Dindar, co-founder & CEO of Pumpkn, emphasized the company's mission: "Pumpkn is committed to working closely with agribusinesses to enable their growth, with a direct impact on job creation. We seek to fill the financing gap for agribusinesses by providing farmers and entrepreneurs with the financial resources they need to thrive." This investment marks Renew Capital's first venture in South Africa. Adam Abate, principal of investment at Renew Capital, expressed enthusiasm for the partnership: "We are witnessing an important shift in Africa, with technology playing a major role in boosting sectors including agriculture. We are thrilled to support Pumpkn on its mission and proud to have them as our first-ever investment in South Africa." #Agritech #Investment #Agribusiness #Fintech #Africa
THAT IS GREAT
Director at Housing connect
2dImpressive growth!