Floyd Line Investment
Description
Floyd Line Investment is a youth and woman-owned social enterprise venture supporting employment and entrepreneurship for impact and profits. The company’s vision is to create opportunities for the youth, women & special groups through impact ventures. The company is running its ‘AGRIFIT’ project in agriculture, agribusiness, finance, and technology that it expects will create 200 permanent jobs and over 600 casual jobs monthly while promoting gender equality and supporting over 22,000 smallholder farmers in the country through its value chains directly and indirectly.
Market Opportunity/ Problem
The company is solving for low farm yields, market inconsistencies, bulk production, food insecurity, lifestyle change and increased population globally that has led to constrained resources. While Kenya has 60% arable land, only 10% of its gross domestic production is allocated to agriculture. With decreased farmlands globally due to property development and increased population demand for agricultural products is expected to increase by ~45% by 2050. There is therefore the need to increase farmlands. The company has already identified 200,000 acres of land for farming in Kenya that could potentially generate a Kshs.10 billion in annual profits from the fourth year of operation.
Company Information
Years of operation
1
Type of organization
Private company
Stage of the business
Early stage/ Startup
Agribusiness focus
Primary production
Agriculture value chain(s) focus?
Food crops
Primary country of operation
Kenya
Other country(ies) of operation
N/A
How many employees does your business have?
9
Does the business have more than 30% women ownership?
No
Does the business have more than 30% youth ownership (under 35 years)?
Yes
Financing and expansion overview
How much capital is the company currently fundraising (US$)?
>1m
What is the split between equity and debt?
100% venture debt