Kenyan Agri-fintech Startup, Apollo Agriculture, Raises $10M to Accelerate Its Expansion Across Africa
Apollo Agriculture, a Kenyan Agri-Fintech startup company that helps small-scale farmers in Africa and beyond to achieve a more profitable harvest by providing them with best-in-class inputs, financing, insurance, has secured $10 million in funding from Swedfund and ImpactConnect to accelerate its expansion across Africa.
The funds will empower the company to extend its support to more smallholder farmers, enabling them to boost profitability, adopt sustainable farming practices, and enhance food security.
Leveraging advanced technologies such as machine learning and automation, Apollo Agriculture is addressing the unique challenges faced by farmers by offering access to high-quality inputs, strategic financing, and digital guidance through its platform.
Since its inception, Apollo Agriculture has made a significant impact, reaching over 350,000 farmers in Kenya and Zambia. The additional funding will fuel its broader expansion within Kenya, providing more farmers with the digital tools and financial support essential for success. This investment is expected to not only increase productivity and profitability but also promote sustainable farming practices.
Apollo Agriculture plays a crucial role in equipping farmers with the knowledge and resources necessary to adapt to climate change, thereby contributing to long-term food security across Africa.
Speaking on the funds raised, CEO of Apollo Agriculture Eli Pollak said,
“This partnership 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.
“This 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.”
