Farmers’ credit rating app startup gets Safaricom funding

Friday, February 10, 2017

FarmDrive, a startup firm which helps farmers gain access to cheap credit, has received an undisclosed capital injection from Safaricom’s Spark Fund.

Safaricom established the Sh103.6 million ($1 million) private equity fund in 2013 to support early-stage technology start-ups.
FarmDrive uses mobile phone technology to assign credit scores to smallholder farmers.  It also links up the farmers to potential lenders through its application.


Source: Business Daily Africa (link opens in a new window)

financial inclusion, mobile finance