Investor Relations

Tarfin was founded in February 2017. In April 2017, it received its first capital injection from BIC Angels angel network. In September 2018, the company completed its second capital raise with the participation of local and international funds, Collective Spark and Wamda Capital.

In September 2020, Tarfin raised a $5 million Series-A round led by the global fintech fund Quona Capital with the participation of Raiffeisen Bank's venture capital fund Elevator Ventures, one of the world's leading agricultural input producer Syngenta Group's venture capital fund Syngenta Group Ventures and supported by Tarfin's existing investors Collective Spark Fund and Wamda Capital. Tarfin in December 2020 raised an additional $8 million pre-Series-B round with participation from Yara Growth Ventures and existing investors. Capital injections allow Tarfin to continue to invest in its tech and data teams as well as reach and finance more farmers in Turkey and Eastern Europe.

KPMG annually audits Tarfin’s financials since 2017.

Since its founding, Tarfin has issued 12 asset-backed securities (ABS) that transform its farmer receivables into a structured investment instruments for qualified individual and institutional investors. Farmer receivables, which are approved by Tarfin’s agricultural risk scoring models, are bundled in a ring-fenced SPV and issued in a security in an overcollateralized, secure structure. Use of capital markets through its ABS program and its wide ranging wholesale investor base allows Tarfin to provide competitive prices to its farmers across Turkey and Eastern Europe.

Tarfin won the "Special Award" at the 4th TCMA Capital Markets Awards in 2018, one of the most prestigious competitions in the Turkish capital markets, as well as winning "Best Structured Bond Product" at the Bonds and Loans Awards in 2019.

Tarfin Asset-Backed Securities Issuances


100 Mio ₺

PASHA Yatırım Bankası A.Ş



100 Mio ₺

PASHA Yatırım Bankası A.Ş



100 Mio ₺

PASHA Yatırım Bankası A.Ş


12th ISS.

50 Mio ₺

PASHA Yatırım Bankası A.Ş


11th ISS.

50 Mio ₺

PASHA Yatırım Bankası A.Ş


10th ISS.

50 Mio ₺

PASHA Yatırım Bankası A.Ş


9th ISS.

50 Mio ₺

PASHA Yatırım Bankası A.Ş


8th ISS.

46 Mio ₺

PASHA Yatırım Bankası A.Ş


7th ISS.

40 Mio ₺

PASHA Yatırım Bankası A.Ş


6th ISS.

14 Mio ₺

PASHA Yatırım Bankası A.Ş


5th ISS.

20 Mio ₺

PASHA Yatırım Bankası A.Ş


4th ISS.

10 Mio ₺

Ünlü & Co Menkul Değerler A.Ş.


3rd ISS.

10 Mio ₺

Ünlü & Co Menkul Değerler A.Ş.


2nd ISS.

1 Mio ₺

Ünlü & Co Menkul Değerler A.Ş.


1st ISS.

1 Mio ₺

Ünlü & Co Menkul Değerler A.Ş.


You can contact Tarfin with your questions regarding Tarfin ABS issuances and financial reports.

Our Investors

The value created by Tarfin for farmers has attracted the attention of globally-acclaimed investors.


About Quona Capital

Quona Capital is a scale-up stage venture firm focused on fintech for inclusion in emerging markets. Quona partners have deep experience as investors and operators in both emerging and developed markets and look for entrepreneurs whose companies have the potential to provide outstanding financial returns and promote breakthrough innovation in financial inclusion. To date, Quona has supported more than 30 financial technology companies, expanding access for underserved consumers and small businesses in Latin America, South and Southeast Asia, and Sub-Saharan Africa. Quona got its start through a strategic relationship with Accion, a global nonprofit with a pioneering legacy in microfinance and fintech impact


About Yara Growth Ventures

Yara Growth Ventures is the venture investment team within Yara International ASA. (a world leading crop nutrition and agriculture company headquartered in Norway) The Yara Growth Ventures team invests in disruptive startups in the agri-food industry globally in order to advance the mission of responsibly feeding the world and protecting the planet. Founded in 1905 to solve the emerging famine in Europe, Yara has established a unique position as the industry’s only global crop nutrition company. We operate an integrated business model with around 17,000 employees and operations in over 60 countries, with a proven track record of strong returns. In 2020, Yara reported revenues of USD 11.6 billion.


About Elevator Ventures

Elevator Ventures, the venture capital entity of Raiffeisen Bank International, is expanding its portfolio with a focus on fintech ventures in Central and Eastern Europe. Combining its belief in the fintech ecosystem in the region with the expertise and corporate solution partnership of Raiffeisen Bank International, Elevator Ventures aims to bring its invested enterprises to a leading position in their sectors.


About Syngenta Group Ventures

Syngenta Ventures is the corporate venture capital (CVC) arm of Syngenta Group, one of the world’s leading agriculture innovation companies, with roots going back more than 250 years. Its 48,000 people across more than 100 countries strive to transform agriculture through breakthrough products and technologies that play a vital role in enabling the food chain to feed the world safely, sustainably and with respect for our planet. Launched in 2009, Syngenta Group Ventures was one of the first corporate venture capital teams dedicated to agriculture. With an experienced team of investment professionals and a large, diverse portfolio of investments, Syngenta Ventures has established itself as one of the most active and knowledgeable investors in the space today. Syngenta Ventures makes investments across North America, Europe, Latin America, Israel, India and China with a common theme of helping growers to be more profitable while positively impacting the future of agriculture. See more about Syngenta Ventures at


About Collective Spark Fund

Collective Spark Fund, established in Turkey, focuses on early stage technology ventures. Focusing on startups that have the potential to change their industry, the fund positions itself as a long-term partner for startups. It provides access to the best expert talent and hands-on shared resources in different areas critical to the success of initiatives.


About Wamda

Wamda accelerates entrepreneurship ecosystems throughout the Mena region by joining Wamda’s multi-stage, sector-agnostic investment vehicle, focused on partnering with high growth technology or technology-enabled startups, as well as the leading knowledge platform offering integrated programmes including thought leadership and research, community development, Wamda’s fellowship programme Wamda X, as well as corporate and government advisory services to the various stakeholders of the Mena startup ecosystem.