facebook-badge

Turkey’s Tarfin Raises USD $8 Million Pre-Series B Bridge Round

urkey’s Tarfin Raises USD $8 Million Pre-Series B Bridge Round 09.12.2021

Tarfin, a digital agriculture platform that offers quick and flexible financing options to farmers through a Point of Sale (POS) network, announced today that it has raised USD $8 million in a Pre-Series B bridge round of financing. The round welcomed Yara Growth Ventures (the venture capital arm of Norway-based Yara), which is one of the world's largest fertilizer manufacturers, and saw participation from existing investors Quona Capital, Elevator Ventures (Raiffeisen Bank's venture capital fund), Syngenta Group Ventures (the venture capital fund of Syngenta Group, one of the world's leading seed and pesticide manufacturers), Collective Spark Fund and Dubai-based Wamda. The funding will be used to strengthen Tarfin’s offerings to farmers in Turkey and fund expansion in Romania.

 

"This investment is an important proof that scale-based value can be built by using technology in small-scale agriculture", said Mehmet Memecan, founder and CEO of Tarfin. "It will be an important driving force between reaching out to more farmers in Turkey and expanding abroad from Romania."  

 

Tarfin, founded in 2017 in Northeastern Turkey, now provides services throughout the country with its wide agri-dealer network and digital infrastructure, combining traditional supply channels, technology and financial resources. Farmers can compare different price alternatives on Tarfin Mobile and instantly purchase fertilizers, seeds and chemicals with convenient post-harvest payment terms. At Tarfin, farmers find competitive prices as well as the speed of the digital world.

 

Today Tarfin provides farmers with easy access to agri-inputs through more than 800 partner points of sale in more than 70 cities. To date, the company has supplied and financed over USD $8 million in agricultural inputs to 32,000 farmers. 

 

“We believe in the power of technology and data science when it comes to better servicing the needs of farmers. We plan to use this latest USD $8 million funding in expanding our software development and data science teams, finance the launch of our Romanian operations and invest in new value-added products and services for our farmers and partner agri-dealers” said Memecan. 

 

“One of the things that we like about Tarfin is the critical role they play in providing farmers and agri-dealers with the financing they need to grow their businesses,” said George Roche of Yara Growth Ventures. “By being an enabler of credit through an easy to use experience and competitive interest rates, Tarfin has tremendous potential to layer on new offerings to both agri-dealers and farmers directly.”

share

Similar News

Tarfin Completes Series A Investment Round
18.01.2022
Tarfin Completes Series A Investment Round

Tarfin raises $5M Series A led by Quona Capital. Turkish farm-inputs sales and financing platform will use funds to expand its proprietary mobile technology and reach more farmers in Turkey and Eastern Europe.

Continue to read
Another round of Turkey's one and only ABS issuances based on agricultural receivables was issued
18.01.2022
Another round of Turkey's one and only ABS issuances based on agricultural receivables was issued

The sixth of Tarfin's asset-backed securities issues, which is unique in its field and plays an important role in uniting Turkish agriculture with investment resources, met with its investors in cooperation with Pasha Investment Bank and OMG Capital Advisors.

Continue to read
Tarfin cited as a model by the European Investment Fund
18.01.2022
Tarfin cited as a model by the European Investment Fund

Empowering farmers since 2017, Tarfin helps farmers overcome financial difficulties. The company is making a difference with its innovative vision, generating incremental value with its mobile application complements by offering a "buy now, pay at harvest" system. The advantages of purchasing with harvest payments creates a sustainable solution for the agricultural sector, and puts a smile on the faces of our farmers.

Continue to read