To support expansion plans, agri-tech startup Complete Farmer raised $10.4 M Pre-Series A funding

A pre-Series A funding round worth US $10.4 million has been raised by Ghana’s Complete Farmer, an end-to-end digital agricultural marketplace that connects African farmers and international industries to competitive markets, resources, data, and each other on a single platform. This funding will be used to support the platform’s expansion plans.

Complete Farmer was established in 2017 and focuses on providing farmers and buyers of agricultural commodities with two key solutions.

Its product, aimed at farmers by using data-driven cultivation protocols and precision farming tools, CF Grower assists African farmers in increasing their output, gaining access to international markets, and improving their standard of living. By giving them dependable and convenient access to commodities that are produced to their specifications, CF Buyer, on the other hand, serves buyers all over the world.

Combining debt and equity, the US $10.4 million funding round was co-led by the Acumen Resilient Agriculture Fund (ARAF) and Alitheia Capital through its uMunthu II Fund in collaboration with Goodwell Investments. They were joined by VestedWorld Rising Star Fund, Proparco, and Newtown Partners.

The Social Enterprise Fund for Agriculture in Africa (SEFAA) of Sahel Capital, the Alpha Jiri Investment Fund of the Alpha Mundi Group, and Global Social Impact Investments all contributed debt financing to finance CAPEX and working capital investments in support of both short- and long-term growth.

By uniting more than 12,000 farmers from five important regions of Ghana, Complete Farmer has already managed the cultivation of more than 30,000 acres of land, supplied commodities to Asia, Europe, and the rest of the world, and decreased post-harvest losses. The funding will be used to increase its impact by advancing its expansion plans, enabling the scaling of its operations, and improving its technological foundation.

“At Complete Farmer, we are on a mission to revolutionise Africa’s agriculture value chain, to ensure competitiveness for all stakeholders involved,” said Desmond Koney, CEO of Complete Farmer. “We are thrilled to welcome our new partner investors, who are seasoned experts in the industry and have a profound understanding of our mission which enables them to make valuable contributions along our entire supply chain. It is a pleasure to have partners who share our belief in Complete Farmer’s potential impact on sustainable food production and food security in Africa and the rest of the world.”

The round will be co-led by Tamer El-Raghy, managing director of ARAF. He expressed his pleasure at the opportunity and expressed his admiration for the strides that Complete Farmer has made in facilitating Ghanaian farmers’ access to international trade as well as introducing them to new crops and sustainable farming methods.

“Our goal at ARAF is to invest and grow local enterprises that support smallholder farmers in building resilience to climate change. Complete Farmer’s technology platform and farming protocols enable farmers to access quality inputs, agronomical support, and premium markets, resulting in improved yields and income as reported by the farmers themselves. We are therefore excited to partner with Complete Farmer over the next phase of its growth through expanding in Ghana and to other parts of the region,” he said.

Alitheia Capital managing partner Tokunboh Ishmael expressed pride in Complete Farmer’s work and the chance to ramp up its intended results of strengthening the African agricultural value chain and enhancing export prospects through this investment in Complete Farmer.

“Employing home-grown technology developed in Africa, Complete Farmer serves as a vital bridge that connects local farmers and their products with global markets and financial resources. This connectivity results in increased incomes for farmers, elevated product quality, broader access for buyers, and an overall enhancement of global trade dynamics,” she said.