Ghanaian Company Farmerline Secures Mega US$12.9 Million Pre Series A Funding

• Alloysius Attah, CEO and Co-founder of Farmerline, achieved a magnificent milestone as he secured funding for his company
• Farmerline, a powerhouse in the agricultural sector, acquired funding amounting to US$12.9 million
• The funding aims to strengthen Farmerline's supply chain for agribusinesses and increase the productivity of farmers all over Africa

Numerous investors have invested US$12.9 million in Alloysius Attah's Farmerline group. The investment comes as good news for farmers in Ghana and all over Africa, as the funding seeks to cut down on the cost of farming on the continent and improve farmers' yield.

Farmerline, for the past decade, has revolutionized the agribusiness space, adopting a more modern way of farming and helping over a million farmers go digital, forming partnerships all over Africa and providing jobs for countless people in Ghana.

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Since its inception in 2013, the company has seen substantial growth year on year. Additionally, Farmerline has accomplished another milestone as it secured funding from various foundations and banks. The good news was reported by Pulse.com.gh.

A Break Down Of The US$12.9 Million Funding

The investment is divided into two parts, a US$6.4 million Pre-Series A investment and a $6.5 million debt. The US$6.4 million investment came from Acumen Resilient Agriculture Fund(ARAF) and FMO, the Dutch entrepreneurial development bank.

For The layman, you might be wondering what a series A investment or funding is. A series A fund is a type of investment made by investors in well-established companies with a track record of consistent revenue figures, and Farmerline has done just that over the years.

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The 6.5 million debt came from DEG, Rabobank, Ceniarth, Rippleworks, Mulago Foundation, Whole Planet Foundation, Netri Foundation and Kiva.

If you're wondering, debt funds are mutual funds that invest in income securities, and they are a less volatile form of investments.

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Source: YEN.com.gh