Winich Farms, a Nigerian agritech company, secures a six-figure extension round of funding from DisrupTech Ventures.
DisrupTech Ventures, a Cairo-based venture capital firm specialising in fintech, has made its first investment in Sub-Saharan Africa by backing Nigerian agritech startup, Winich Farms. This move marks a strategic expansion of DisrupTech's portfolio beyond Egypt [1][2][3].
### Key Investment Details
The investment is part of Winich Farms' $3 million pre-Series A funding round, indicating a growing interest in Africa's fintech and agriculture sectors [2]. Winich Farms operates by connecting smallholder farmers to institutional off-takers, enhancing market access and financial inclusion via digital platforms and tools such as the Winich Card [1][3].
### Expansion Plans
This partnership aims to support Winich's operational expansion and market development, with plans to enter new African territories and establish export partnerships in the Middle East and North Africa [3][4]. The collaboration also allows for the exchange of expertise between Egypt and Nigeria, leveraging agriculture as a core sector in both economies [2][4].
### The Intersection of Agritech and Fintech
This investment underscores the potential for agritech startups to improve financial inclusion and market access for smallholder farmers across Africa [1][2]. By digitising farmers' identities, Winich Farms enables easier access to credit and insurance services provided by third-parties [5].
### Regional Diversification
DisrupTech Ventures' foray into Nigeria reflects its commitment to regional diversification and recognising the growth opportunities in Sub-Saharan Africa's agritech and fintech sectors [2][3]. Winich Farms competes in Nigeria's $600 million agritech market with ThriveAgric, Farmcrowdy, Zowasel, and AgroMall [6].
### Strategic Partnership
Sahel Capital, an agritech investor, will now sit directly on Winich Farms' board following the investment [7]. DisrupTech Ventures brings key value to Winich Farms with its experience in scaling fintech products [8].
However, no new information about Sahel Capital's involvement with Winich Farms was disclosed, nor was any new information about DisrupTech Ventures' previous investments or its role in Winich Farms revealed [9][10].
In conclusion, DisrupTech Ventures' investment in Winich Farms signifies a significant step in the modernisation of Africa's agricultural value chain, supporting smallholder farmers, and fostering inclusive financial ecosystems. The partnership also represents a strategic move by DisrupTech Ventures to expand its reach and capitalise on the growth opportunities in Sub-Saharan Africa's agritech and fintech sectors.
- DisrupTech Ventures, with its investment in Winich Farms, is capitalizing on the growth opportunities in Sub-Saharan Africa's agritech and fintech sectors, marking a strategic expansion of its portfolio.
- The investment by DisrupTech Ventures in Winich Farms is part of a $3 million pre-Series A funding round, indicating a growing interest in Africa's fintech and agriculture sectors.
- This strategic partnership between DisrupTech Ventures and Winich Farms aims to support the operational expansion and market development of the agritech startup, with plans to enter new African territories, digitize farmers' identities, and establish export partnerships in MENA.
