Friday, January 21

Agrofy raised US $ 30 million and will launch loans through its platform

“In the context of the pandemic, agriculture increased the pace of its scanning process. We have been working in that direction long before and capitalize on this phenomenon. Close this new round of investment allows us to consolidate the transactional product and supply payments, which gives us the opportunity also to provide a better online shopping experience to the customer. At a time where investments are not abundant, we are very pleased to continue advancing and consolidating the same time growing in Brazil, “said Maximiliano Landrein, CEO and founder of Agrofy.

As they told in the company, since its first series to date, the company has already attracted more than u $ s 63 million in investment rounds. Indeed, six years was made when the firm boosted the digitization of all bound processes, not only in Argentina but also in the region agricultural production, with a strong focus on consolidation within the Brazilian market, which has given a leading role in the world of “agrofintech”. Today, five thousand brands and companies offer their products in Argentina, Brazil, Colombia, Chile, Bolivia, Peru, Uruguay and Paraguay, with more than five million monthly visits to the site.

On this occasion, Yara Venture Capital is the lead investor, joined by other private investors and current Agrofy shareholders, who accompanied the round. They are Cresud, Bunge Ventures, Syngenta Ventures, Fall Line Capital, ACRE, SP Ventures, Glocal, BrasilAgro, Capria, Endeavor, Draper Cygnus and Lartirigoyen.

“I am very happy to have the support of a player like Yara Growth Ventures. Having that confidence, and that of other investors who have joined us in recent years, is a great sign that we are on the right track to continue growing as references in the digitization of agriculture, “says Alejandro Larosa, cofounder and president of Agrofy.

From Yara Growth Ventures, its managing director, Erkki Aaltonen said that “one of the things we like about Agrofy is the potential they have for future expansion.” “Maximilian and Alexander have worked consistently in favor of a strategy that has seen the company expand geographically in Latin America and expand with new offerings to serve its customers. Yara Growth Ventures hopes to accelerate its growth and be part of the journey, “he said.

“Agrofy had already been leading the digital transformation of Agribusiness. With the outbreak of the pandemic, this entire process was catalyzed and the company consolidated itself as the absolute leader in the chain’s digitization process. This new round of investment, which exceeded US $ 30 million, contributed by the current partners and led by a new investor such as Yara Growth Ventures, consolidates Agrofy as one of the largest market places in the world agriculture ”, he points out. Francisco Jardim, general partner of SP Ventures.

All work is supported by a team of 300 people, from this round of investment will increase by 30% over the medium term, mostly linked to technological profiles. According to what scope, a target for the second half of 2022 will be officially launched Agrofy Pay in Brazil. “What differentiates us from other proposals of e-commerce for agriculture, is that there is none that is a pure place market like ours and is held on a 100 DNA percent digital and focused 24 hours a day to the agro sector, “highlights Landrein.