Complete Farmer has closed a $10.4 million pre-Series A funding round to transform farming practices in Africa by developing critical technical and physical infrastructure. The funding round consists of $7 million in equity and $3.4 million in debt.
The Acumen Resilient Agriculture Fund and Alitheia Capital (via its uMunthu II Fund in partnership with Goodwell Investments) co-led the equity round. Proparco, Newton Partners, and VestedWorld also participated. Sahel Capital’s SEFAA Fund, Alpha Mundi Group’s Alpha Jiri Investment Fund, and Global Social Impact Investments provided the debt financing.
Founded in 2018 by Desmond Kooney, Complete Farmer is an end-to-end agricultural marketplace that connects African producers and global industries to competitive markets, resources, data, and each other. This platform leverages proprietary cultivation protocols for crop production, enabling smallholder and commercial farmers to cultivate commodities that conform to global standards, thereby ensuring post-harvest offtake.
Complete Farmer has successfully brought together over 12,000 farmers across five key regions in Ghana. The platform has also managed the cultivation of over 30,000 acres of land, delivering commodities to Asia, Europe, and other parts of the world while reducing post-harvest losses. According to the CEO, in 2021, the company generated $2.8 million in revenues after deducting a 30% commission from the earnings from each farmer-to-buyer transaction. Revenues grew to $5.3 million in 2022 and will reach $7.5 million this year.
