Finance

African agri fintech secured the lowest venture capital funds in 2021 (GRAZE)

African agri fintech secured the lowest venture capital funds in 2021 (GRAZE)
Wednesday, 13 July 2022 16:57

Agri fintechs are companies that offer tech solutions to allow financial institutions and rural actors access to financial information, offer or receive loans, manage farms, or trade farm products. In 2021, those startups operating in Africa secured a US$75 million investment. The amount was the lowest globally but, it is up from the amounts the continent raised in 2019 and 2020. 

African agri fintech raised the lowest volume of venture capital globally in 2021, according to a recent report published by consulting firm Graze. 

While North American agri fintech raised US$650 million of venture capital that year, their Latin American and European counterparts raised US$214 million and 124 million respectively. Meanwhile, African agri fintech raised just US$75 million.  

Although the amount is comparatively lower than the volume raised by other continents, it is substantially up compared to its 2-year level. Indeed, from US$1 million in 2019, the volume of venture capital raised by African agri fintech rose to US$10 million in 2020 before its sharp rise to US$75 million in 2021. 

The number of deals closed also increased from 3 in 2019 and 2020, to 16 in 2021. Twiga Foods captured the largest share of the amount raised with US$50 million. It was followed by SunCulture, which secured US$14 million. 

Overall, the venture capital investment attracted by agri fintech globally represented just 1% of the US$600 billion of venture capital investments secured worldwide in 2021.  "Generally, investors have remained apprehensive about agriculture as it is seen as a high-risk sector," commented Graze founder Niall Haughey.

 Let’s note however that the volume of venture capital investments attracted by agri fintech worldwide are sharply rising since 2019. 

Chamberline Moko

On the same topic
WAEMU states collectively raised nearly 7,000 billion CFA francs in the first half of 2025, a record amount driven by increased financing needs, the...
• Inflation within the West African Economic and Monetary Union (UEMOA) fell to a two-year low of 0.6% in May, bolstered by a decline in food costs. •...
• Interbank volumes rose 18.7% in May, while rates declined across the market• The BCEAO cut its main policy rate to 3.25% following a sharp drop in...
• EY is preparing to leave Francophone Sub-Saharan Africa by 2026• The exit could unlock $500 million to $1 billion in annual market...
Most Read
01

• Global coffee consumption projected to hit a record 169.4 million 60-kg bags in 2025/2026, up from...

Coffee: Global Consumption Expected to Reach Record Level in 2025/2026
02

• Algeria grants commercial 5G licenses to top three telecom operators: Mobilis, Djezzy, and Ooredoo...

Algeria Awards Commercial 5G Licenses
03

• Investors seem to keep focusing on yields, which are high for the moment• New Leadership might see...

Afreximbank Bonds Retain Market Confidence Despite Moody’s Downgrade
04

• Kenyan President William Ruto signs strategic partnership with UK Prime Minister Keir Starmer to b...

William Ruto in London: New Agreement Aims to Double Kenya-UK Trade by 2030
05

• IFC teams up with AfDB and Nigeria’s EbonyLife to assess a new fund for African cinema• Sector cou...

IFC Plans Investment Fund to Help Grow African Film Industry
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

Benjamin FLAUX
bf@agenceecofin.com 
Téls: +41 22 301 96 11 
Mob: +41 78 699 13 72
Média kit : Download

EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.