Title

WeFarm rakes in $13M to grow its marketplace and network for independent farmers

WeFarm, a marketplace and networking site for small-holder farmers (that is, farms not controlled by large agribusinesses), has raised $13 million in a Series A round of funding, with plans to use the money to continue adding more users — farmers — and more services geared to their needs.

WeFarm today has around 1.9 million registered users, and its early moves into providing a marketplace — helping to put farmers in touch with local suppliers of goods and gear such as seed and fertilizers — generated $1 million in sales in its first eight months of operations, a sign that there is business to be had here.

WeFarm is based out of London, but while the startup does have users out of the UK and the rest of Europe, Kenny Ewan, the company’s founder and CEO, said in an interview that it is seeing much more robust activity and growth out of developing economies, where small-scale agriculture reigns supreme, but those working the farms have been massively underserved when it comes to new, digital services.

“We are building an ecosystem for global small scale agriculture, on behalf of farmers,” Ewan said, noting that there are roughly 500 million small scale farms globally, with some 1 billion people working those holdings, which typically extend 1.5-2 hectares and often are focused around staple commercial crops like rice, coffee, cattle or vegetables.

Initially Ewan said that it’s been working with — and importantly, vetting — local suppliers to help them connect with farmers and the wider ecosystem for goods and services that they might need

Full Article