Ghana’s AgroCenta has closed a US$650,000 seed round of equity and non-equity funding, in order to scale its operations.
AgroCenta, which was founded in 2015 is an online sales solution for smallholder farmers, which offers supply chain platform AgroTrade, and financial inclusion service AgroPay.
Earlier in April, AgroCenta was crowned global winner of early-stage pitching competition Seedstars World, and Seedstars participated in its seed round of funding, alongside other investors that include Switzerland-based company NP Consulting.
As Disrupt Africa reported, AgroCenta was one of six African startups awarded non-equity funding by the GSMA Ecosystem Accelerator. Though the startup’s co-founder and chief executive officer (CEO) Francis Obirikorang declined to disclose the breakdown of equity versus grant cash, Disrupt Africa confirms that the GSMA input is worth around US$250,000.
According to Mr Obirikorang, the GSMA grant will specifically be geared towards the AgroPay platform, which provides any smallholder farmers who trade using AgroTrade with a financial statement they can use to get access to finance. The funds will be used to scale up AgroCenta’s operations in Ghana.