NewTech Friday: Agrix Tech – Making commercial farming more profitable for all

What led to the creation of Agrix Tech? 

In Cameroon, 55% of rural farmers are not able to make a decent living from their farming activity.

The main reason behind this situation is the fact that smallholder farmers are excluded from the financial system: they cannot afford resources that would make their activity more efficient and profitable, and they are not eligible for personal loan programs (school loans, asset acquisition, etc.) that would improve their livelihood.

Could you present Agrix Tech’s offer? 

Agrix Tech Inc. is an agri-fintech incorporated in Delaware and operating in Cameroon, that helps small-scale farmers to transition from subsistence farming to commercial farming by bringing technology and financial services to them.

More specifically:

• We bundle and provide to farmers everything they need to succeed: financing, farm inputs, advice, insurance and market access.

• We source high quality produce from local producers (smallholder farmers) and resell it to industrial crop buyers.

• We provide farmers with diverse types of personal loans based on their business history with us.

What's coming next for Agrix Tech? 

We are raising $850k to set up a microfinance institution which will allow us to more efficiently grow and cover the market. We plan to complete the fund raise end of April 2023.