Ghana’s AgroCenta has closed a US$650,000 seed round of equity and non-equity funding, in order to scale its operations.
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.
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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.