APOLLO AGRICULTURE LIMITED
Status: Completed investmentWhy disclosure?
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Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Established in 2016, Apollo is a Kenyan technology start-up operating at the intersection of AgriTech and FinTech. Apollo is supplying small Kenyan farmers with high-quality farming inputs on credit, crop insurance and voice-based training. Apollo uses a unique ‘high tech, low touch’ model by leveraging advances in mobile money, machine learning and remote sensing technology including satellite data.
What is our funding objective?
Kenyan start-up Apollo Agriculture has received a financial boost from Dutch Development Bank FMO and the Rabobank Foundation, totaling USD 500,000. The tech start-up will use the FMO and Rabobank Foundation financing to fund the farmers’ harvesting cycles, further develop the credit model and to expand geographically.
Why do we fund this investment?
Apollo Agriculture is well-aligned with the aims of MASSIF in providing access to finance for entrepreneurs in low-income countries, with a particular focus on rural areas. It also fits with FMO’s focus to finance fintech companies that have inclusive business models. We are helping a young company support small farmers to improve their livelihoods and optimize their produce.
More investments
| Date | Total FMO financing |
|---|---|
| 1/13/2021 | EUR 0.02 MLN |
- Region
- Africa
- Country
- Kenya
- Sector
- Financial Institutions
- Effective date
- 7/10/2018
- End date
- 5/25/2020
- Total FMO financing
- USD 0.25 MLN
- Funding
- MASSIF