Village Capital, an international nonprofit dedicated to nurturing early-stage ventures, recently unveiled its significant financial support for two promising agritech startups. Aquarech, based in Kenya, and Coamana, located in Nigeria, have received a total investment of $850,000 from Village Capital’s Reducing Inequalities Investment Facility. This initiative is supported by the MASSIF Fund managed by FMO, the Dutch entrepreneurial development bank.
Aquarech: Redefining Fish Farming Finance and Training
Aquarech, focused on addressing the challenges faced by fish farmers, is pioneering a buy-now-pay-later (BNPL) scheme specifically tailored for fish feed. This innovative financial approach not only eases the economic burden on farmers but also includes training and agricultural tools aimed at enhancing farming techniques and increasing farmer incomes.
Coamana: Digitizing Farmer Management and Market Access
Established in 2018, Coamana is revolutionizing farmer management operations by digitalizing them through its marketplace platform, Amana Market. Coamana serves as a crucial link between farmers and traders, offering various services such as product sales, access to loans, and the delivery of real-time market insights. The company aims to elevate farmers‘ earning potential by providing them with the essential data to make informed decisions about marketing their products.
Enthusiastic Support from Village Capital
Kavon Badie, an Investment Officer at Village Capital, expressed his enthusiasm for supporting Coamana in developing a comprehensive digital framework for agricultural commerce across Africa. These strategic investments underscore a broader trend of leveraging technology to address the unique challenges within Africa’s agricultural sector.
Fostering Agricultural Innovation for Growth and Modernization
By fostering innovation, startups like Aquarech and Coamana play a pivotal role in connecting farmers with markets and services, thereby contributing to the overall growth and modernization of agriculture on the continent. Village Capital’s investment signifies a commitment to fostering sustainable and impactful change within the agritech space in Africa, with a keen focus on reducing inequalities and bolstering agricultural development.